Candriam S.C.A. Sells 166,000 Shares of Wipro Limited (NYSE:WIT)

Candriam S.C.A. lessened its holdings in Wipro Limited (NYSE:WIT) by 28.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 414,000 shares of the information technology services provider’s stock after selling 166,000 shares during the quarter. Candriam S.C.A.’s holdings in Wipro were worth $1,466,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Perigon Wealth Management LLC bought a new stake in shares of Wipro in the fourth quarter valued at about $61,000. Tobam bought a new stake in shares of Wipro in the fourth quarter valued at about $261,000. Van ECK Associates Corp boosted its position in shares of Wipro by 89.8% in the fourth quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider’s stock valued at $1,235,000 after acquiring an additional 165,076 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Wipro by 93.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider’s stock worth $307,000 after purchasing an additional 41,766 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in Wipro during the third quarter worth about $610,000. Institutional investors own 2.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WIT shares. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. Finally, StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Wipro Stock Performance

Wipro stock opened at $3.28 on Monday. The business has a 50 day moving average of $3.53 and a 200-day moving average of $5.25. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The company has a market capitalization of $34.25 billion, a P/E ratio of 22.59, a P/E/G ratio of 3.08 and a beta of 0.94.

Wipro (NYSE:WIT) last released its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, equities research analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

About Wipro

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.