Stevens Capital Management LP boosted its position in Wipro Limited (NYSE:WIT) by 233.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,541 shares of the information technology services provider’s stock after purchasing an additional 32,594 shares during the quarter. Stevens Capital Management LP’s holdings in Wipro were worth $202,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Wipro by 125.7% during the fourth quarter. Bank of New York Mellon Corp now owns 27,798 shares of the information technology services provider’s stock valued at $143,000 after purchasing an additional 15,479 shares during the period. Millennium Management LLC lifted its stake in Wipro by 126.7% in the fourth quarter. Millennium Management LLC now owns 168,731 shares of the information technology services provider’s stock valued at $866,000 after buying an additional 94,308 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Wipro in the first quarter valued at approximately $60,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Wipro during the first quarter worth $67,000. Finally, Lindbrook Capital LLC boosted its stake in Wipro by 50.1% in the 1st quarter. Lindbrook Capital LLC now owns 7,064 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 2,358 shares during the period. Hedge funds and other institutional investors own 2.22% of the company’s stock.
WIT has been the subject of several research reports. Wedbush reaffirmed an “underperform” rating on shares of Wipro in a research note on Wednesday, July 17th. Zacks Investment Research reaffirmed a “sell” rating on shares of Wipro in a research report on Sunday. ValuEngine lowered shares of Wipro from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Finally, TheStreet cut shares of Wipro from a “b” rating to a “c+” rating in a research report on Tuesday, September 3rd. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company has a consensus rating of “Sell” and a consensus price target of $4.76.NYSE WIT traded down $0.10 on Wednesday, hitting $3.68. 1,455,440 shares of the company’s stock were exchanged, compared to its average volume of 1,410,436. The stock has a 50-day moving average of $3.88 and a 200-day moving average of $4.33. Wipro Limited has a 52 week low of $3.62 and a 52 week high of $4.63. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 1.45 and a beta of 0.50. The company has a current ratio of 2.71, a quick ratio of 2.69 and a debt-to-equity ratio of 0.04.
Wipro (NYSE:WIT) last announced its earnings results on Wednesday, July 17th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $139.80 million during the quarter, compared to the consensus estimate of $147.23 billion. Wipro had a net margin of 15.65% and a return on equity of 16.57%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. As a group, analysts predict that Wipro Limited will post 0.24 earnings per share for the current year.
Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company’s IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.
Receive News & Ratings for Wipro Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Wipro and related companies with MarketBeat.com’s FREE daily email newsletter.