Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Wipro Limited (NYSE:WIT) by 59.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,508 shares of the information technology services provider’s stock after selling 296,263 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wipro were worth $1,029,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of WIT. US Bancorp DE boosted its position in shares of Wipro by 20.5% during the 3rd quarter. US Bancorp DE now owns 249,799 shares of the information technology services provider’s stock valued at $1,302,000 after acquiring an additional 42,573 shares during the last quarter. Comerica Bank boosted its position in shares of Wipro by 5.9% during the 3rd quarter. Comerica Bank now owns 280,794 shares of the information technology services provider’s stock valued at $1,390,000 after acquiring an additional 15,627 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Wipro by 36.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 60,294 shares of the information technology services provider’s stock valued at $314,000 after acquiring an additional 16,230 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Wipro by 376.1% during the 3rd quarter. SG Americas Securities LLC now owns 645,567 shares of the information technology services provider’s stock valued at $3,363,000 after acquiring an additional 509,964 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Wipro by 214.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 315,280 shares of the information technology services provider’s stock valued at $1,643,000 after acquiring an additional 215,109 shares during the last quarter. 2.14% of the stock is owned by hedge funds and other institutional investors.
Shares of Wipro stock opened at $4.03 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.77 and a current ratio of 2.79. The company has a market capitalization of $18.14 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.88 and a beta of 0.49. Wipro Limited has a one year low of $3.38 and a one year high of $4.35.
Wipro (NYSE:WIT) last announced its quarterly earnings results on Friday, January 18th. The information technology services provider reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Wipro had a return on equity of 16.16% and a net margin of 14.51%. As a group, equities analysts expect that Wipro Limited will post 0.26 EPS for the current fiscal year.
A number of brokerages have recently issued reports on WIT. TheStreet upgraded Wipro from a “c” rating to a “b-” rating in a research report on Friday, January 18th. Credit Suisse Group downgraded Wipro from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 22nd. Zacks Investment Research raised Wipro from a “sell” rating to a “hold” rating in a report on Wednesday, December 19th. Finally, Deutsche Bank initiated coverage on Wipro in a report on Thursday, January 10th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Wipro has a consensus rating of “Hold” and an average target price of $5.89.
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Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.
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