Wipro Limited (NYSE:WIT) Shares Sold by Greenleaf Trust

Greenleaf Trust lessened its stake in shares of Wipro Limited (NYSE:WIT) by 65.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,783 shares of the information technology services provider’s stock after selling 66,562 shares during the quarter. Greenleaf Trust’s holdings in Wipro were worth $199,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Wipro by 4.6% in the third quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock worth $60,368,000 after buying an additional 553,433 shares during the last quarter. Acadian Asset Management LLC grew its position in Wipro by 50.1% in the third quarter. Acadian Asset Management LLC now owns 6,786,259 shares of the information technology services provider’s stock worth $32,837,000 after buying an additional 2,265,859 shares during the last quarter. Rhumbline Advisers boosted its stake in Wipro by 4.7% in the 3rd quarter. Rhumbline Advisers now owns 1,930,460 shares of the information technology services provider’s stock worth $9,343,000 after purchasing an additional 86,226 shares during the period. Deutsche Bank AG boosted its stake in Wipro by 25.8% in the 3rd quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock worth $9,238,000 after purchasing an additional 390,947 shares during the period. Finally, Toroso Investments LLC acquired a new position in Wipro in the 3rd quarter worth approximately $5,591,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WIT shares. Wedbush raised their price objective on shares of Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a research note on Tuesday, January 16th. StockNews.com lowered shares of Wipro from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet raised shares of Wipro from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Finally, BNP Paribas began coverage on shares of Wipro in a research note on Wednesday, January 17th. They set an “underperform” rating and a $5.20 target price for the company. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $5.05.

Wipro Stock Down 0.5 %

Wipro stock opened at $5.44 on Friday. The company has a market capitalization of $28.38 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.19 and a beta of 0.87. The firm’s fifty day simple moving average is $5.86 and its 200-day simple moving average is $5.41. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. Wipro Limited has a 1-year low of $4.48 and a 1-year high of $6.45.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.