Natural Investments LLC Acquires 7,456 Shares of Wipro Limited $WIT

Natural Investments LLC grew its holdings in Wipro Limited (NYSE:WIT) by 21.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 42,464 shares of the information technology services provider’s stock after buying an additional 7,456 shares during the quarter. Natural Investments LLC’s holdings in Wipro were worth $128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of WIT. Acadian Asset Management LLC raised its position in shares of 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 valued at $64,171,000 after purchasing an additional 6,447,184 shares during the period. Northern Trust Corp raised its position in shares of 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 valued at $17,646,000 after purchasing an additional 3,087,697 shares during the period. Millennium Management LLC raised its position in shares of 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 valued at $21,769,000 after purchasing an additional 2,939,007 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 valued at $22,115,000 after purchasing an additional 2,257,828 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of 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 valued at $31,683,000 after purchasing an additional 1,864,943 shares during the period. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 1.5%

Shares of NYSE:WIT opened at $2.68 on Friday. The company has a 50 day moving average of $2.73 and a 200 day moving average of $2.85. The stock has a market cap of $28.06 billion, a P/E ratio of 17.29 and a beta of 1.00. Wipro Limited has a 12 month low of $2.58 and a 12 month high of $3.79.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Thursday, July 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $219.23 billion. Wipro had a net margin of 15.07% and a return on equity of 15.94%. On average, equities analysts forecast that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Cuts Dividend

The business also recently declared a dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 28th were paid a $0.057 dividend. This represents a yield of 409.9%. The ex-dividend date of this dividend was Monday, July 28th. Wipro’s payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Wipro in a research report on Wednesday. Morgan Stanley raised shares of Wipro from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 20th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

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.