Quadrant Capital Group LLC Boosts Stake in Wipro Limited $WIT

Quadrant Capital Group LLC raised its holdings in Wipro Limited (NYSE:WIT) by 46.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,136,767 shares of the information technology services provider’s stock after purchasing an additional 682,194 shares during the quarter. Quadrant Capital Group LLC’s holdings in Wipro were worth $6,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC purchased a new stake in shares of Wipro in the 3rd quarter valued at $27,000. Sapient Capital LLC purchased a new stake in shares of Wipro in the 4th quarter valued at $29,000. Axxcess Wealth Management LLC purchased a new stake in shares of Wipro in the 4th quarter valued at $29,000. Curi Capital LLC purchased a new stake in shares of Wipro in the 2nd quarter valued at $31,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Wipro in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Wipro from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Wipro presently has an average rating of “Sell”.

Wipro Trading Up 2.6%

WIT stock opened at $2.21 on Friday. The company has a market capitalization of $23.10 billion, a PE ratio of 15.75, a P/E/G ratio of 4.71 and a beta of 0.97. Wipro Limited has a 12-month low of $1.80 and a 12-month high of $3.13. The business’s fifty day moving average price is $2.10 and its 200 day moving average price is $2.40.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Thursday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.65 billion. Wipro had a return on equity of 14.97% and a net margin of 14.25%. Research analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro Profile

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.