Russell Investments Group Ltd. Trims Stock Holdings in Wipro Limited (NYSE:WIT)

Russell Investments Group Ltd. lessened its position in shares of Wipro Limited (NYSE:WITFree Report) by 47.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,146 shares of the information technology services provider’s stock after selling 25,000 shares during the quarter. Russell Investments Group Ltd.’s holdings in Wipro were worth $157,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC boosted 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 valued at $32,837,000 after buying an additional 2,265,859 shares during the last quarter. Toroso Investments LLC acquired a new stake in shares of Wipro in the third quarter worth $5,591,000. Vanguard Group Inc. raised its holdings in shares of Wipro by 4.6% during 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 purchasing an additional 553,433 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Wipro by 107.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 955,404 shares of the information technology services provider’s stock valued at $4,624,000 after purchasing an additional 495,695 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Wipro by 25.8% in the third quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock valued at $9,238,000 after purchasing an additional 390,947 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Stock Up 1.0 %

WIT stock opened at $5.47 on Friday. The firm’s fifty day moving average is $5.54 and its 200 day moving average is $5.51. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.28 and a current ratio of 2.29. Wipro Limited has a one year low of $4.48 and a one year high of $6.45. The firm has a market cap of $28.52 billion, a PE ratio of 21.86, a P/E/G ratio of 3.72 and a beta of 0.86.

Wipro (NYSE:WITGet Free Report) last released its quarterly earnings results on Friday, April 19th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Wipro had a return on equity of 16.05% and a net margin of 12.29%. On average, research analysts forecast that Wipro Limited will post 0.27 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com lowered Wipro from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $5.30.

Read Our Latest Research Report on Wipro

Wipro Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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