Wipro Limited $WIT Stock Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC decreased its position in shares of Wipro Limited (NYSE:WIT) by 48.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 747,432 shares of the information technology services provider’s stock after selling 706,466 shares during the quarter. Quadrant Capital Group LLC’s holdings in Wipro were worth $1,345,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WIT. Commonwealth Financial Services LLC acquired a new position in shares of Wipro in the 1st quarter valued at approximately $25,000. rebel Financial LLC bought a new stake in shares of Wipro during the 1st quarter worth approximately $25,000. Nolet Wealth Management LLC acquired a new stake in shares of Wipro during the 2nd quarter worth approximately $28,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Wipro during the 2nd quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Wipro in the fourth quarter valued at approximately $29,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings downgraded shares of Wipro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. CLSA cut Wipro from a “hold” rating to an “underperform” rating in a research note on Wednesday, August 19th. Four research analysts have rated the stock with a Sell rating. Based on data from MarketBeat, Wipro currently has a consensus rating of “Strong Sell” and a consensus target price of $1.70.

Wipro Stock Down 3.4%

NYSE WIT opened at $2.12 on Friday. Wipro Limited has a twelve month low of $1.59 and a twelve month high of $3.09. The company has a market cap of $20.92 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 4.38 and a beta of 0.97. The business’s fifty day moving average is $1.79 and its 200 day moving average is $1.96.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Thursday, October 15th. The information technology services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Wipro had a return on equity of 15.64% and a net margin of 13.58%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.58 billion. On average, research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Profile

Wipro Limited is a global information technology, consulting and business process services company headquartered in Bengaluru, India. The company helps organizations modernize their technology operations, improve business processes and implement digital transformation initiatives.

Wipro provides services including cloud computing, cybersecurity, data and analytics, artificial intelligence, application development and management, engineering, infrastructure services, and business process services.