West Family Investments Inc. Decreases Stake in Wipro Limited (NYSE:WIT)

West Family Investments Inc. cut its position in Wipro Limited (NYSE:WIT) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,504 shares of the information technology services provider’s stock after selling 2,543 shares during the period. West Family Investments Inc.’s holdings in Wipro were worth $1,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC increased its holdings in Wipro by 292.0% in the first quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock valued at $7,732,000 after buying an additional 1,001,644 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Wipro by 165.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 277,964 shares of the information technology services provider’s stock valued at $1,598,000 after acquiring an additional 173,072 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Wipro in the 2nd quarter valued at about $531,000. CWM LLC raised its position in shares of Wipro by 11.8% during the 2nd quarter. CWM LLC now owns 20,621 shares of the information technology services provider’s stock worth $126,000 after acquiring an additional 2,178 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Wipro during the third quarter worth approximately $860,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WIT has been the topic of a number of research analyst reports. StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a report on Monday. Investec downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.60.

Wipro Trading Up 0.4 %

WIT opened at $6.73 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. Wipro Limited has a 52 week low of $4.67 and a 52 week high of $7.04. The business’s 50 day moving average is $6.55 and its two-hundred day moving average is $6.13. The firm has a market cap of $35.17 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 4.54 and a beta of 0.89.

Wipro (NYSE:WIT) last announced its earnings results on Thursday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Wipro had a net margin of 13.23% and a return on equity of 14.98%. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.66 billion. On average, research analysts predict that Wipro Limited will post 0.27 EPS for the current year.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. 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.