Penserra Capital Management LLC Has $19.47 Million Stock Holdings in Wipro Limited $WIT

Penserra Capital Management LLC grew its stake in Wipro Limited (NYSE:WIT) by 42.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,446,407 shares of the information technology services provider’s stock after acquiring an additional 1,929,377 shares during the period. Penserra Capital Management LLC owned 0.06% of Wipro worth $19,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. R Squared Ltd boosted its position in Wipro by 16.0% during the second quarter. R Squared Ltd now owns 27,810 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 3,830 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Wipro by 2.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 215,015 shares of the information technology services provider’s stock worth $658,000 after purchasing an additional 5,618 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of Wipro by 12.2% in the 2nd quarter. HB Wealth Management LLC now owns 53,733 shares of the information technology services provider’s stock valued at $162,000 after buying an additional 5,856 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its stake in shares of Wipro by 62.4% in the first quarter. Focus Partners Advisor Solutions LLC now owns 16,253 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 6,245 shares in the last quarter. Finally, Wealthstream Advisors Inc. increased its holdings in Wipro by 11.2% during the second quarter. Wealthstream Advisors Inc. now owns 69,630 shares of the information technology services provider’s stock worth $210,000 after buying an additional 7,000 shares during the last quarter. Institutional investors own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on WIT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Wipro in a research note on Thursday, October 30th. CLSA downgraded shares of Wipro from an “outperform” rating to a “hold” rating in a research note on Monday, October 20th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Wipro Stock Performance

NYSE WIT opened at $2.59 on Friday. The stock has a market cap of $27.07 billion, a PE ratio of 17.23, a P/E/G ratio of 16.16 and a beta of 1.02. The firm has a 50-day moving average of $2.70 and a 200-day moving average of $2.82. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79.

Wipro (NYSE:WIT) last released its quarterly earnings results on Thursday, October 16th. The information technology services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $2.56 billion during 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%. As a group, analysts predict that Wipro Limited will post 0.14 EPS 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.