Vanguard Group Inc. Has $63.83 Million Stake in Wipro Limited $WIT

Vanguard Group Inc. trimmed its holdings in shares of Wipro Limited (NYSE:WIT) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,476,328 shares of the information technology services provider’s stock after selling 392,131 shares during the period. Vanguard Group Inc. owned 0.21% of Wipro worth $63,833,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Resonant Capital Advisors LLC acquired a new stake in Wipro during the 4th quarter valued at $138,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in Wipro during the 4th quarter valued at $5,075,000. HB Wealth Management LLC boosted its position in Wipro by 79.1% in the 4th quarter. HB Wealth Management LLC now owns 53,099 shares of the information technology services provider’s stock valued at $151,000 after buying an additional 23,454 shares during the last quarter. Legacy Advisors LLC bought a new position in Wipro in the 4th quarter valued at $60,000. Finally, Quadrant Private Wealth Management LLC boosted its position in Wipro by 83.6% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 42,983 shares of the information technology services provider’s stock valued at $122,000 after buying an additional 19,578 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Stock Performance

Shares of WIT opened at $1.87 on Friday. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 3.99 and a beta of 0.92. The business’s fifty day moving average price is $2.14 and its two-hundred day moving average price is $2.47. Wipro Limited has a 52 week low of $1.80 and a 52 week high of $3.13.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Thursday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 14.97% and a net margin of 14.25%.The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.65 billion. As a group, research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

WIT has been the topic of a number of recent research reports. Morgan Stanley lowered Wipro to an “underweight” rating in a research report on Monday, January 19th. Weiss Ratings lowered Wipro from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

About Wipro

Wipro Limited (NYSE: WIT) is an Indian multinational corporation that provides information technology, consulting and business process services. Headquartered in Bengaluru, India, the company traces its origins to 1945 when it was founded as Western India Vegetable Products and later diversified into technology and IT services. Today Wipro positions itself as a provider of enterprise IT solutions and digital transformation services for large and mid-sized organizations across multiple industries.

The company’s service portfolio includes application development and maintenance, cloud and infrastructure services, data analytics and AI, cybersecurity, digital consulting, product engineering and research and development, as well as business process services.