Wipro Limited (NYSE:WIT) Shares Sold by Signaturefd LLC

Signaturefd LLC decreased its holdings in shares of Wipro Limited (NYSE:WIT) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 572,603 shares of the information technology services provider’s stock after selling 18,754 shares during the quarter. Signaturefd LLC’s holdings in Wipro were worth $1,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WIT. MQS Management LLC acquired a new stake in shares of Wipro in the first quarter valued at $117,000. Ballentine Partners LLC grew its stake in shares of Wipro by 3.4% in the first quarter. Ballentine Partners LLC now owns 521,719 shares of the information technology services provider’s stock valued at $1,596,000 after buying an additional 17,226 shares in the last quarter. Xponance Inc. grew its stake in shares of Wipro by 55.5% in the first quarter. Xponance Inc. now owns 58,420 shares of the information technology services provider’s stock valued at $179,000 after buying an additional 20,854 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Wipro by 63.5% in the first quarter. Cerity Partners LLC now owns 970,796 shares of the information technology services provider’s stock valued at $2,971,000 after buying an additional 376,892 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in shares of Wipro by 17.5% in the first quarter. Alps Advisors Inc. now owns 417,132 shares of the information technology services provider’s stock valued at $1,276,000 after buying an additional 62,000 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Down 1.2%

WIT stock opened at $2.88 on Tuesday. The company’s 50 day moving average price is $2.96 and its 200 day moving average price is $3.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.72. Wipro Limited has a fifty-two week low of $2.63 and a fifty-two week high of $3.79. The firm has a market capitalization of $30.07 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 8.20 and a beta of 1.02.

Wipro (NYSE:WIT) last released its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a net margin of 14.73% and a return on equity of 15.97%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $225.66 billion. On average, equities research analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group cut Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. Wall Street Zen raised Wipro from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Finally, Morgan Stanley raised Wipro from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Wipro Company Profile

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.