Penserra Capital Management LLC Decreases Stake in Wipro Limited (NYSE:WIT)

Penserra Capital Management LLC lowered its position in shares of Wipro Limited (NYSE:WIT) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 749,102 shares of the information technology services provider’s stock after selling 8,815 shares during the quarter. Penserra Capital Management LLC’s holdings in Wipro were worth $4,854,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC lifted its holdings in Wipro by 67.6% during the second quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider’s stock worth $34,298,000 after acquiring an additional 2,267,995 shares during the period. Marshall Wace LLP bought a new stake in shares of Wipro during the 2nd quarter worth $7,994,000. Jane Street Group LLC boosted its holdings in shares of Wipro by 292.0% in the 1st quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after buying an additional 1,001,644 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Wipro by 116.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider’s stock valued at $10,435,000 after buying an additional 867,516 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in Wipro by 154.1% during the first quarter. Lazard Asset Management LLC now owns 855,496 shares of the information technology services provider’s stock worth $4,919,000 after buying an additional 518,866 shares during the last quarter. 2.36% of the stock is owned by institutional investors.

Wipro Price Performance

NYSE WIT opened at $6.98 on Monday. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The company has a market cap of $36.47 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.72 and a beta of 0.89. Wipro Limited has a 52 week low of $4.67 and a 52 week high of $7.04. The firm’s 50-day simple moving average is $6.59 and its two-hundred day simple moving average is $6.17.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Thursday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Wipro had a net margin of 13.23% and a return on equity of 14.98%. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Research analysts predict that Wipro Limited will post 0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WIT. StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. Investec downgraded Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.60.

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.