Lester Murray Antman dba SimplyRich acquired a new position in Wipro Limited (NYSE:WIT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,356 shares of the information technology services provider’s stock, valued at approximately $110,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Wipro by 125.7% during the 4th quarter. Bank of New York Mellon Corp now owns 27,798 shares of the information technology services provider’s stock worth $143,000 after buying an additional 15,479 shares during the period. Millennium Management LLC grew its position in shares of Wipro by 126.7% during the 4th quarter. Millennium Management LLC now owns 168,731 shares of the information technology services provider’s stock worth $866,000 after buying an additional 94,308 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Wipro during the first quarter valued at approximately $60,000. Financial Gravity Wealth Inc. bought a new position in Wipro in the first quarter valued at approximately $67,000. Finally, Lindbrook Capital LLC lifted its stake in Wipro by 50.1% in the first quarter. Lindbrook Capital LLC now owns 7,064 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 2,358 shares in the last quarter. 2.17% of the stock is owned by institutional investors.

WIT traded up $0.03 on Wednesday, hitting $3.79. 161,587 shares of the stock were exchanged, compared to its average volume of 1,068,165. Wipro Limited has a 12 month low of $3.62 and a 12 month high of $4.63. The business has a 50-day moving average of $4.09 and a two-hundred day moving average of $4.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.71 and a quick ratio of 2.69. The firm has a market capitalization of $22.81 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.46 and a beta of 0.48.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Wednesday, July 17th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. Wipro had a net margin of 15.65% and a return on equity of 16.57%. The business had revenue of $139.80 million during the quarter, compared to analysts’ expectations of $147.23 billion. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. Equities research analysts expect that Wipro Limited will post 0.24 earnings per share for the current fiscal year.

A number of analysts have recently commented on WIT shares. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. ValuEngine downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Finally, Wedbush restated an “underperform” rating on shares of Wipro in a research note on Wednesday, July 17th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and an average price target of $4.76.

Wipro Company 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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