Nationwide Fund Advisors Grows Stake in Wipro Limited (NYSE:WIT)

Nationwide Fund Advisors lifted its stake in shares of Wipro Limited (NYSE:WIT) by 107.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,254 shares of the information technology services provider’s stock after purchasing an additional 28,658 shares during the quarter. Nationwide Fund Advisors’ holdings in Wipro were worth $314,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WIT. Mitsubishi UFJ Trust & Banking Corp increased its stake in Wipro by 214.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 501,652 shares of the information technology services provider’s stock worth $2,609,000 after acquiring an additional 341,958 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Wipro by 83.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 401,902 shares of the information technology services provider’s stock valued at $2,090,000 after purchasing an additional 183,180 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Wipro by 100.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 152,200 shares of the information technology services provider’s stock valued at $781,000 after purchasing an additional 76,100 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Wipro by 68.9% during the 2nd quarter. Baillie Gifford & Co. now owns 589,766 shares of the information technology services provider’s stock valued at $3,067,000 after acquiring an additional 240,601 shares during the period. Finally, BlackRock Inc. boosted its holdings in Wipro by 112.3% during the 2nd quarter. BlackRock Inc. now owns 17,915,466 shares of the information technology services provider’s stock valued at $93,159,000 after acquiring an additional 9,475,887 shares during the period. Institutional investors own 2.36% of the company’s stock.

Several equities research analysts recently weighed in on WIT shares. BNP Paribas cut Wipro from a “hold” rating to a “reduce” rating in a report on Thursday, September 14th. Goldman Sachs Group cut Wipro from a “neutral” rating to a “sell” rating in a report on Sunday, September 17th. Finally, Zacks Investment Research cut Wipro from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $141.50.

Wipro Limited (NYSE:WIT) opened at $5.81 on Thursday. Wipro Limited has a 52-week low of $4.50 and a 52-week high of $6.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.52 and a current ratio of 2.53. The firm has a market capitalization of $23,040.00, a P/E ratio of 20.75, a P/E/G ratio of 2.78 and a beta of 0.73.

Wipro (NYSE:WIT) last posted its earnings results on Tuesday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.17 billion. Wipro had a return on equity of 16.14% and a net margin of 15.77%. equities analysts forecast that Wipro Limited will post 0.25 earnings per share for the current year.

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About Wipro

Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.

Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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