Fisher Asset Management LLC Sells 200,092 Shares of Wipro Limited $WIT

Fisher Asset Management LLC lessened its position in shares of Wipro Limited (NYSE:WIT) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,020,730 shares of the information technology services provider’s stock after selling 200,092 shares during the quarter. Fisher Asset Management LLC owned about 0.07% of Wipro worth $21,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. West Family Investments Inc. lifted its position in Wipro by 37.3% during the 2nd quarter. West Family Investments Inc. now owns 533,167 shares of the information technology services provider’s stock valued at $1,610,000 after purchasing an additional 144,972 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Wipro by 60.8% during the second quarter. Quadrant Capital Group LLC now owns 1,221,439 shares of the information technology services provider’s stock worth $3,689,000 after buying an additional 461,616 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Wipro in the second quarter valued at approximately $719,000. XTX Topco Ltd bought a new position in Wipro in the second quarter valued at approximately $328,000. Finally, Summit Global Investments grew its holdings in Wipro by 20.6% during the 2nd quarter. Summit Global Investments now owns 373,738 shares of the information technology services provider’s stock worth $1,129,000 after acquiring an additional 63,922 shares during the period. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Stock Up 0.2%

Shares of WIT stock opened at $2.73 on Wednesday. Wipro Limited has a 12-month low of $2.55 and a 12-month high of $3.79. The firm has a fifty day moving average of $2.67 and a 200-day moving average of $2.80. The firm has a market capitalization of $28.54 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 16.16 and a beta of 1.05.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WIT. Weiss Ratings reissued a “hold (c)” rating on shares of Wipro in a research note on Thursday, October 30th. CLSA lowered Wipro from an “outperform” rating to a “hold” rating in a research note on Monday, October 20th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.