Ethic Inc. Reduces Stock Holdings in Wipro Limited $WIT

Ethic Inc. trimmed its position in Wipro Limited (NYSE:WIT) by 1.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,036,451 shares of the information technology services provider’s stock after selling 14,378 shares during the period. Ethic Inc.’s holdings in Wipro were worth $3,151,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of WIT. Acadian Asset Management LLC boosted its position in Wipro by 44.4% in the first quarter. Acadian Asset Management LLC now owns 20,977,514 shares of the information technology services provider’s stock worth $64,171,000 after purchasing an additional 6,447,184 shares during the last quarter. Northern Trust Corp boosted its position in Wipro by 115.3% in the first quarter. Northern Trust Corp now owns 5,766,763 shares of the information technology services provider’s stock worth $17,646,000 after purchasing an additional 3,087,697 shares during the last quarter. Millennium Management LLC boosted its position in Wipro by 70.4% in the first quarter. Millennium Management LLC now owns 7,114,173 shares of the information technology services provider’s stock worth $21,769,000 after purchasing an additional 2,939,007 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Wipro by 45.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,227,213 shares of the information technology services provider’s stock worth $22,115,000 after purchasing an additional 2,257,828 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Wipro by 22.0% in the first quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider’s stock worth $31,683,000 after purchasing an additional 1,864,943 shares during the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Wipro in a research report on Wednesday, October 8th. CLSA cut Wipro from an “outperform” rating to a “hold” rating in a research report on Monday, October 20th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Wipro Stock Down 0.9%

WIT stock opened at $2.69 on Friday. Wipro Limited has a twelve month low of $2.58 and a twelve month high of $3.79. The stock has a market cap of $28.11 billion, a P/E ratio of 17.90, a PEG ratio of 16.40 and a beta of 1.00. The business’s 50-day moving average price is $2.73 and its 200-day moving average price is $2.84.

Wipro (NYSE:WIT) last issued its earnings results on Thursday, October 16th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $224.40 billion. Wipro had a net margin of 15.06% and a return on equity of 15.80%. On average, equities research analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

About Wipro

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.