Alps Advisors Inc. Has $783,000 Holdings in Wipro Limited (WIT)
Alps Advisors Inc. reduced its stake in shares of Wipro Limited (NYSE:WIT) by 20.9% during the 2nd quarter, Holdings Channel reports. The fund owned 163,532 shares of the information technology services provider’s stock after selling 43,242 shares during the period. Alps Advisors Inc.’s holdings in Wipro were worth $783,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Aperio Group LLC grew its holdings in shares of Wipro by 6.5% in the 1st quarter. Aperio Group LLC now owns 3,590,723 shares of the information technology services provider’s stock worth $18,528,000 after purchasing an additional 219,639 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Wipro in the 1st quarter worth about $224,000. State of New Jersey Common Pension Fund D grew its holdings in shares of Wipro by 12.7% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 445,800 shares of the information technology services provider’s stock worth $2,300,000 after purchasing an additional 50,400 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Wipro by 31.8% in the 1st quarter. Signaturefd LLC now owns 61,525 shares of the information technology services provider’s stock worth $317,000 after purchasing an additional 14,853 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Wipro by 167.2% in the 1st quarter. US Bancorp DE now owns 232,306 shares of the information technology services provider’s stock worth $1,199,000 after purchasing an additional 145,369 shares during the last quarter. 2.37% of the stock is currently owned by institutional investors.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a report on Sunday, July 15th. TheStreet raised shares of Wipro from a “c+” rating to a “b-” rating in a report on Monday, August 6th. CLSA lowered shares of Wipro from an “underperform” rating to a “sell” rating in a report on Tuesday, July 24th. ValuEngine raised shares of Wipro from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Finally, Jefferies Financial Group assumed coverage on shares of Wipro in a research report on Wednesday, June 20th. They set an “underperform” rating on the stock. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Wipro has an average rating of “Hold” and a consensus target price of $6.00.
Wipro (NYSE:WIT) last issued its quarterly earnings results on Friday, July 20th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.10 billion. Wipro had a net margin of 14.66% and a return on equity of 15.89%. sell-side analysts forecast that Wipro Limited will post 0.28 earnings per share for the current fiscal year.
Wipro Company Profile
Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.
Read More: Trading Strategy Examples and Plans
Want to see what other hedge funds are holding WIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wipro Limited (NYSE:WIT).
Receive News & Ratings for Wipro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wipro and related companies with MarketBeat.com's FREE daily email newsletter.