Wipro Limited (NYSE:WIT) Stock Holdings Decreased by World Asset Management Inc

World Asset Management Inc reduced its position in Wipro Limited (NYSE:WIT) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,273 shares of the information technology services provider’s stock after selling 4,571 shares during the period. World Asset Management Inc’s holdings in Wipro were worth $378,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Wipro by 52.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,239 shares of the information technology services provider’s stock worth $61,000 after acquiring an additional 5,234 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Wipro by 31.6% during the first quarter. Signaturefd LLC now owns 75,573 shares of the information technology services provider’s stock worth $301,000 after purchasing an additional 18,140 shares during the period. Raymond James & Associates acquired a new stake in shares of Wipro during the fourth quarter worth approximately $187,000. Quadrant Capital Group LLC boosted its holdings in shares of Wipro by 105.5% during the first quarter. Quadrant Capital Group LLC now owns 120,074 shares of the information technology services provider’s stock worth $475,000 after purchasing an additional 61,632 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Wipro by 31.6% during the first quarter. SG Americas Securities LLC now owns 254,562 shares of the information technology services provider’s stock worth $1,013,000 after purchasing an additional 61,141 shares during the period. 2.22% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Wipro from a “sell” rating to a “hold” rating in a report on Saturday, July 27th. ValuEngine cut shares of Wipro from a “hold” rating to a “sell” rating in a report on Friday. Macquarie cut shares of Wipro from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 16th. Wedbush restated an “underperform” rating on shares of Wipro in a report on Wednesday, July 17th. Finally, Nomura cut shares of Wipro from a “neutral” rating to a “reduce” rating in a report on Thursday, April 18th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Wipro has a consensus rating of “Sell” and a consensus price target of $4.76.

NYSE WIT traded down $0.11 during trading on Monday, reaching $3.92. The company’s stock had a trading volume of 26,271 shares, compared to its average volume of 1,670,355. The company has a quick ratio of 2.69, a current ratio of 2.71 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $24.19 billion, a PE ratio of 17.95, a PEG ratio of 1.55 and a beta of 0.49. The stock has a 50-day simple moving average of $4.27. Wipro Limited has a 1-year low of $3.62 and a 1-year high of $4.63.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Wednesday, July 17th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting the Zacks’ 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. Wipro’s revenue was down 5.0% compared to the same quarter last year. On average, sell-side analysts expect that Wipro Limited will post 0.24 earnings per share for the current year.

About Wipro

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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