Fisher Asset Management LLC held its position in Wipro Ltd. (NYSE:WIT) during the third quarter, according to its most recent filing with the SEC. The firm owned 1,854,321 shares of the company’s stock at the end of the third quarter. Fisher Asset Management LLC owned about 0.08% of Wipro worth $18,005,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of WIT. State Street Corp increased its position in Wipro by 6.8% in the first quarter. State Street Corp now owns 2,252,451 shares of the company’s stock valued at $28,332,000 after buying an additional 144,090 shares in the last quarter. UBS Group AG increased its position in Wipro by 27.6% in the first quarter. UBS Group AG now owns 60,308 shares of the company’s stock valued at $758,000 after buying an additional 13,032 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Wipro by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 187,392 shares of the company’s stock valued at $2,357,000 after buying an additional 10,223 shares in the last quarter. Renaissance Technologies LLC increased its position in Wipro by 52.9% in the first quarter. Renaissance Technologies LLC now owns 871,900 shares of the company’s stock valued at $10,969,000 after buying an additional 301,800 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Wipro by 2.3% in the first quarter. Legal & General Group Plc now owns 137,817 shares of the company’s stock valued at $1,733,000 after buying an additional 3,100 shares in the last quarter. 2.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Wipro Ltd. (NYSE:WIT) traded up 3.19% during trading on Friday, reaching $9.70. 360,503 shares of the company’s stock were exchanged. Wipro Ltd. has a 52 week low of $9.09 and a 52 week high of $13.08. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 18.87 and a beta of 1.00. The stock has a 50 day moving average price of $9.58 and a 200-day moving average price of $10.84.
Wipro (NYSE:WIT) last posted its quarterly earnings results on Friday, October 21st. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.01. Wipro had a return on equity of 18.06% and a net margin of 15.96%. The company had revenue of $137.66 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $9.08 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts predict that Wipro Ltd. will post $0.54 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by [[site]] and is owned by of [[site]]. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this piece of content can be read at [[permalink]].
Several equities analysts have recently weighed in on WIT shares. HSBC downgraded shares of Wipro from a “hold” rating to a “reduce” rating in a research note on Tuesday, August 9th. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Wedbush started coverage on shares of Wipro in a research note on Thursday, September 8th. They issued an “underperform” rating and a $8.50 price target on the stock. TheStreet downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research note on Friday, September 16th. Finally, Nomura downgraded shares of Wipro from a “neutral” rating to a “reduce” rating in a research note on Monday, October 24th. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of “Sell” and an average price target of $11.17.
About Wipro
Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.