Wipro Limited (WIT) Shares Bought by Renaissance Group LLC

Renaissance Group LLC grew its stake in shares of Wipro Limited (NYSE:WIT) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,759,662 shares of the information technology services provider’s stock after buying an additional 130,457 shares during the period. Renaissance Group LLC owned 0.06% of Wipro worth $15,675,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in WIT. BlackRock Inc. grew its position in shares of Wipro by 112.3% in the second quarter. BlackRock Inc. now owns 17,915,466 shares of the information technology services provider’s stock valued at $93,159,000 after purchasing an additional 9,475,887 shares during the period. Vanguard Group Inc. boosted its holdings in Wipro by 108.9% in the second quarter. Vanguard Group Inc. now owns 13,490,025 shares of the information technology services provider’s stock valued at $70,148,000 after acquiring an additional 7,030,846 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Wipro by 100.1% in the second quarter. Commonwealth Bank of Australia now owns 8,822,315 shares of the information technology services provider’s stock valued at $45,875,000 after acquiring an additional 4,412,296 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Wipro by 52.7% in the second quarter. Nordea Investment Management AB now owns 7,072,417 shares of the information technology services provider’s stock valued at $36,777,000 after acquiring an additional 2,441,298 shares during the last quarter. Finally, State Street Corp boosted its holdings in Wipro by 131.7% in the second quarter. State Street Corp now owns 5,965,542 shares of the information technology services provider’s stock valued at $31,022,000 after acquiring an additional 3,390,392 shares during the last quarter. 2.36% of the stock is owned by institutional investors.

WIT has been the topic of a number of recent research reports. Zacks Investment Research upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. BidaskClub cut Wipro from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. Goldman Sachs Group lowered Wipro from a “neutral” rating to a “sell” rating in a report on Sunday, September 17th. Finally, BNP Paribas lowered Wipro from a “hold” rating to a “reduce” rating in a report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Wipro presently has an average rating of “Hold” and an average target price of $141.50.

Shares of Wipro Limited (NYSE:WIT) traded up $0.01 during mid-day trading on Thursday, reaching $5.17. The company had a trading volume of 436,434 shares, compared to its average volume of 1,389,827. Wipro Limited has a 1-year low of $4.50 and a 1-year high of $6.40. The company has a market cap of $25,184.12, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.53 and a quick ratio of 2.52.

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

Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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