Quadrant Capital Group LLC increased its stake in shares of Wipro Limited (NYSE:WIT) by 105.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,074 shares of the information technology services provider’s stock after purchasing an additional 61,632 shares during the period. Quadrant Capital Group LLC’s holdings in Wipro were worth $475,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Segantii Capital Management Ltd lifted its holdings in shares of Wipro by 986.3% in the first quarter. Segantii Capital Management Ltd now owns 7,693,990 shares of the information technology services provider’s stock valued at $30,369,000 after purchasing an additional 6,985,704 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Wipro by 16.1% in the fourth quarter. Fisher Asset Management LLC now owns 4,608,317 shares of the information technology services provider’s stock valued at $23,641,000 after purchasing an additional 637,536 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Wipro by 29.3% in the fourth quarter. Deutsche Bank AG now owns 2,235,519 shares of the information technology services provider’s stock valued at $11,465,000 after purchasing an additional 506,893 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of Wipro by 11.5% in the fourth quarter. ClariVest Asset Management LLC now owns 1,570,200 shares of the information technology services provider’s stock valued at $8,055,000 after purchasing an additional 161,400 shares in the last quarter. Finally, LMR Partners LLP bought a new stake in shares of Wipro in the fourth quarter valued at about $7,307,000. 1.80% of the stock is owned by institutional investors and hedge funds.
WIT traded down $0.02 on Wednesday, hitting $4.46. 1,341,200 shares of the company were exchanged, compared to its average volume of 1,260,743. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.77 and a current ratio of 2.79. The firm has a market capitalization of $26.83 billion, a PE ratio of 20.27, a PEG ratio of 1.55 and a beta of 0.54. Wipro Limited has a 12 month low of $3.38 and a 12 month high of $4.63.
Wipro (NYSE:WIT) last released its quarterly earnings data on Tuesday, April 16th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $150.06 billion during the quarter, compared to the consensus estimate of $150.97 billion. Wipro had a net margin of 15.39% and a return on equity of 17.24%. Wipro’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.08 EPS. On average, research analysts forecast that Wipro Limited will post 0.25 earnings per share for the current year.
Several analysts recently issued reports on the company. Credit Suisse Group lowered Wipro from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 22nd. Wedbush dropped their target price on Wipro from $4.25 to $3.75 and set an “underperform” rating on the stock in a report on Thursday, March 21st. Macquarie lowered Wipro from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 16th. Zacks Investment Research lowered Wipro from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. Finally, Nomura lowered Wipro from a “neutral” rating to a “reduce” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $4.76.
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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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