Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Wipro Limited (NYSE:WIT) by 24.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 380,693 shares of the information technology services provider’s stock after selling 120,959 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Wipro were worth $2,162,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in Wipro by 100.0% in the second quarter. Legal & General Group Plc now owns 22,720 shares of the information technology services provider’s stock valued at $118,000 after purchasing an additional 11,360 shares during the period. Nationwide Fund Advisors grew its holdings in Wipro by 100.0% in the second quarter. Nationwide Fund Advisors now owns 26,596 shares of the information technology services provider’s stock valued at $138,000 after purchasing an additional 13,298 shares during the period. Brandes Investment Partners LP grew its holdings in Wipro by 100.0% in the second quarter. Brandes Investment Partners LP now owns 27,004 shares of the information technology services provider’s stock valued at $140,000 after purchasing an additional 13,502 shares during the period. QS Investors LLC grew its holdings in Wipro by 100.0% in the second quarter. QS Investors LLC now owns 31,554 shares of the information technology services provider’s stock valued at $164,000 after purchasing an additional 15,777 shares during the period. Finally, Citigroup Inc. grew its holdings in Wipro by 104.9% in the second quarter. Citigroup Inc. now owns 31,223 shares of the information technology services provider’s stock valued at $162,000 after purchasing an additional 15,988 shares during the period. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Limited (WIT) traded up $0.12 on Tuesday, reaching $5.36. 937,000 shares of the company’s stock traded hands, compared to its average volume of 1,384,648. The company has a current ratio of 2.53, a quick ratio of 2.52 and a debt-to-equity ratio of 0.06. Wipro Limited has a 12 month low of $4.50 and a 12 month high of $6.40. The stock has a market capitalization of $21,480.00, a P/E ratio of 19.06, a P/E/G ratio of 2.62 and a beta of 0.73.

Wipro (NYSE:WIT) last released its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Wipro had a net margin of 15.77% and a return on equity of 16.14%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.17 billion. equities research analysts anticipate that Wipro Limited will post 0.25 EPS for the current year.

A number of research firms recently issued reports on WIT. Zacks Investment Research upgraded shares of Wipro from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Friday, October 20th. Goldman Sachs Group downgraded shares of Wipro from a “neutral” rating to a “sell” rating in a report on Sunday, September 17th. BNP Paribas downgraded shares of Wipro from a “hold” rating to a “reduce” rating in a report on Thursday, September 14th. Finally, BidaskClub downgraded shares of Wipro from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Wipro currently has an average rating of “Hold” and an average price target of $141.50.

TRADEMARK VIOLATION NOTICE: This article was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/12/12/wipro-limited-wit-position-cut-by-mitsubishi-ufj-trust-banking-corp.html.

Wipro Profile

Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.

Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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.