Caprock Group LLC Takes $694,000 Position in Wipro Limited $WIT

Caprock Group LLC acquired a new position in shares of Wipro Limited (NYSE:WIT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 251,363 shares of the information technology services provider’s stock, valued at approximately $694,000.

Several other large investors have also recently bought and sold shares of WIT. State Street Corp boosted its stake in shares of Wipro by 3.4% during the second quarter. State Street Corp now owns 22,803,389 shares of the information technology services provider’s stock valued at $68,866,000 after purchasing an additional 746,088 shares in the last quarter. Acadian Asset Management LLC boosted its position in Wipro by 4.1% during the 2nd quarter. Acadian Asset Management LLC now owns 21,841,995 shares of the information technology services provider’s stock worth $65,948,000 after buying an additional 864,481 shares during the period. Goldman Sachs Group Inc. boosted its position in Wipro by 22.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider’s stock worth $31,683,000 after buying an additional 1,864,943 shares during the period. BNP Paribas Financial Markets grew its holdings in Wipro by 17.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 9,965,693 shares of the information technology services provider’s stock worth $30,096,000 after acquiring an additional 1,466,462 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Wipro by 43.4% in the 3rd quarter. Penserra Capital Management LLC now owns 9,242,466 shares of the information technology services provider’s stock valued at $24,307,000 after acquiring an additional 2,796,059 shares during the period. 2.36% of the stock is currently owned by institutional investors.

Wipro Price Performance

Shares of NYSE:WIT opened at $2.34 on Tuesday. Wipro Limited has a 1 year low of $2.26 and a 1 year high of $3.69. The business’s 50-day moving average is $2.74 and its 200-day moving average is $2.72. The company has a market capitalization of $24.46 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 9.34 and a beta of 1.05.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Wednesday, January 21st. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.35% and a net margin of 14.61%.The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.63 billion. Analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on WIT shares. CLSA cut shares of Wipro from an “outperform” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wipro in a research report on Thursday, October 30th. Finally, Morgan Stanley downgraded Wipro to an “underweight” rating in a research report on Monday, January 19th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Wipro has an average rating of “Reduce”.

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.