Wipro Limited $WIT Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its holdings in Wipro Limited (NYSE:WIT) by 87.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 889,836 shares of the information technology services provider’s stock after selling 6,308,040 shares during the quarter. Fisher Asset Management LLC’s holdings in Wipro were worth $2,527,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WIT. Royal Bank of Canada increased its position in Wipro by 19.8% in the 1st quarter. Royal Bank of Canada now owns 120,431 shares of the information technology services provider’s stock valued at $369,000 after acquiring an additional 19,901 shares during the period. NewEdge Advisors LLC increased its position in shares of Wipro by 87.0% during the 1st quarter. NewEdge Advisors LLC now owns 270,702 shares of the information technology services provider’s stock valued at $828,000 after purchasing an additional 125,967 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Wipro by 22.0% in 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 in the last quarter. Jane Street Group LLC raised its stake in shares of Wipro by 184.9% in the 1st quarter. Jane Street Group LLC now owns 224,438 shares of the information technology services provider’s stock worth $687,000 after buying an additional 145,658 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Wipro by 14.3% in the 2nd quarter. Geode Capital Management LLC now owns 107,021 shares of the information technology services provider’s stock worth $323,000 after buying an additional 13,363 shares in the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Stock Performance

WIT opened at $2.36 on Friday. Wipro Limited has a one year low of $1.80 and a one year high of $3.13. The stock’s fifty day moving average is $2.09 and its 200-day moving average is $2.43. The company has a market capitalization of $24.67 billion, a PE ratio of 16.82, a P/E/G ratio of 5.32 and a beta of 0.92.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Thursday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 14.97% and a net margin of 14.25%.The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.65 billion. On average, equities research analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Wipro from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Wipro currently has a consensus rating of “Reduce”.

Wipro Company 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.