PNC Financial Services Group Inc. Has $782,000 Stock Position in Wipro Limited $WIT

PNC Financial Services Group Inc. boosted its holdings in Wipro Limited (NYSE:WIT) by 20.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,942 shares of the information technology services provider’s stock after buying an additional 43,927 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wipro were worth $782,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. HB Wealth Management LLC grew its stake in shares of Wipro by 12.2% during the second quarter. HB Wealth Management LLC now owns 53,733 shares of the information technology services provider’s stock worth $162,000 after buying an additional 5,856 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Wipro by 78.8% in the 2nd quarter. QRG Capital Management Inc. now owns 123,313 shares of the information technology services provider’s stock valued at $372,000 after acquiring an additional 54,337 shares during the last quarter. Modern Wealth Management LLC acquired a new stake in shares of Wipro during the 1st quarter valued at $612,000. Northern Trust Corp grew its position in Wipro by 115.3% during the 1st quarter. Northern Trust Corp now owns 5,766,763 shares of the information technology services provider’s stock worth $17,646,000 after acquiring an additional 3,087,697 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Wipro by 58.7% in the 1st quarter. Invesco Ltd. now owns 531,769 shares of the information technology services provider’s stock worth $1,627,000 after purchasing an additional 196,746 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Trading Down 0.2%

Shares of WIT opened at $2.69 on Friday. The stock’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $2.81. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The company has a market capitalization of $28.12 billion, a PE ratio of 17.90, a PEG ratio of 16.16 and a beta of 1.02.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Thursday, October 16th. The information technology services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $224.40 billion. Wipro had a net margin of 15.06% and a return on equity of 15.80%. Equities research analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WIT. Weiss Ratings reissued a “hold (c)” rating on shares of Wipro in a research note on Thursday, October 30th. CLSA lowered shares of Wipro from an “outperform” rating to a “hold” rating in a report on Monday, October 20th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.