Nykredit A S Makes New $3.78 Million Investment in Wipro Limited $WIT

Nykredit A S acquired a new stake in Wipro Limited (NYSE:WIT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,680,841 shares of the information technology services provider’s stock, valued at approximately $3,782,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WIT. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Wipro by 5.9% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 2,314,134 shares of the information technology services provider’s stock worth $5,207,000 after purchasing an additional 128,854 shares during the last quarter. Natural Investments LLC boosted its holdings in Wipro by 16.3% in the second quarter. Natural Investments LLC now owns 51,762 shares of the information technology services provider’s stock valued at $116,000 after purchasing an additional 7,258 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Wipro during the 2nd quarter worth about $122,000. Hamilton Capital LLC acquired a new stake in Wipro during the 2nd quarter worth about $31,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Wipro in the 2nd quarter valued at about $138,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Performance

WIT opened at $1.80 on Monday. Wipro Limited has a fifty-two week low of $1.75 and a fifty-two week high of $3.09. The company has a fifty day moving average of $1.91 and a two-hundred day moving average of $2.07. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 4.13 and a beta of 0.95.

Wipro (NYSE:WIT) last posted its earnings results on Friday, July 17th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Wipro had a net margin of 13.93% and a return on equity of 15.40%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.60 billion. On average, equities research analysts forecast that Wipro Limited will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

WIT has been the topic of a number of recent research reports. CLSA downgraded Wipro from a “hold” rating to an “underperform” rating in a research note on Wednesday, August 19th. Weiss Ratings raised Wipro from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. lowered Wipro from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $2.20 to $1.70 in a research report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Strong Sell” and an average price target of $1.70.

About Wipro

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.