Eqis Capital Management Inc. decreased its holdings in Wipro Limited (NYSE:WIT) by 20.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,011 shares of the information technology services provider’s stock after selling 56,897 shares during the period. Eqis Capital Management Inc.’s holdings in Wipro were worth $1,139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Wipro by 214.7% during the third quarter. JPMorgan Chase & Co. now owns 315,280 shares of the information technology services provider’s stock valued at $1,643,000 after buying an additional 215,109 shares during the last quarter. Banco de Sabadell S.A bought a new position in Wipro during the third quarter valued at approximately $490,000. GAM Holding AG boosted its stake in Wipro by 138.8% during the third quarter. GAM Holding AG now owns 516,104 shares of the information technology services provider’s stock valued at $2,689,000 after buying an additional 300,000 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Wipro by 24.9% in the 2nd quarter. Renaissance Technologies LLC now owns 627,300 shares of the information technology services provider’s stock valued at $3,005,000 after purchasing an additional 125,000 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Wipro by 20.5% in the 3rd quarter. US Bancorp DE now owns 249,799 shares of the information technology services provider’s stock valued at $1,302,000 after purchasing an additional 42,573 shares during the last quarter. 2.25% of the stock is owned by hedge funds and other institutional investors.

NYSE:WIT opened at $5.46 on Monday. The company has a market capitalization of $24.58 billion, a PE ratio of 21.00, a P/E/G ratio of 1.97 and a beta of 0.40. Wipro Limited has a 1 year low of $4.50 and a 1 year high of $5.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.79 and a quick ratio of 2.49.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Friday, January 18th. The information technology services provider reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Wipro had a return on equity of 16.16% and a net margin of 14.51%. Research analysts expect that Wipro Limited will post 0.29 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on WIT shares. TheStreet lowered Wipro from a “b-” rating to a “c” rating in a research note on Wednesday, October 24th. Deutsche Bank started coverage on Wipro in a research note on Thursday, January 10th. They issued a “hold” rating for the company. ValuEngine raised Wipro from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research lowered Wipro from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd. Finally, Credit Suisse Group lowered Wipro from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.00.

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Wipro Profile

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.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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