Janney Montgomery Scott LLC acquired a new position in Wipro Limited (NYSE:WIT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 49,346 shares of the information technology services provider’s stock, valued at approximately $280,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Legal & General Group Plc raised its position in Wipro by 100.0% in the second quarter. Legal & General Group Plc now owns 22,720 shares of the information technology services provider’s stock worth $118,000 after acquiring an additional 11,360 shares during the period. SG Americas Securities LLC bought a new stake in shares of Wipro during the 2nd quarter valued at $132,000. Nationwide Fund Advisors raised its position in shares of Wipro by 100.0% during the 2nd quarter. Nationwide Fund Advisors now owns 26,596 shares of the information technology services provider’s stock valued at $138,000 after purchasing an additional 13,298 shares during the period. Brandes Investment Partners LP raised its position in shares of Wipro by 100.0% during the 2nd quarter. Brandes Investment Partners LP now owns 27,004 shares of the information technology services provider’s stock valued at $140,000 after purchasing an additional 13,502 shares during the period. Finally, Citigroup Inc. raised its position in shares of Wipro by 104.9% during the 2nd quarter. Citigroup Inc. now owns 31,223 shares of the information technology services provider’s stock valued at $162,000 after purchasing an additional 15,988 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.
Several analysts have recently commented on WIT shares. Goldman Sachs Group downgraded shares of Wipro from a “neutral” rating to a “sell” rating in a research report on Sunday, September 17th. Zacks Investment Research cut shares of Wipro from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $141.50.
Wipro Limited (NYSE:WIT) opened at $5.68 on Friday. The company has a market cap of $22,850.00, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.78 and a beta of 0.73. The company has a quick ratio of 2.52, a current ratio of 2.53 and a debt-to-equity ratio of 0.06. Wipro Limited has a 52 week low of $4.50 and a 52 week high of $6.40.
Wipro (NYSE:WIT) last released its earnings results on Tuesday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Wipro had a net margin of 15.77% and a return on equity of 16.14%. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.17 billion. sell-side analysts anticipate that Wipro Limited will post 0.25 earnings per share for the current fiscal year.
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Wipro Company Profile
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.
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