Shell Asset Management Co. reduced its holdings in shares of Wipro Limited (NYSE:WIT) by 57.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,092 shares of the information technology services provider’s stock after selling 174,241 shares during the quarter. Shell Asset Management Co.’s holdings in Wipro were worth $662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its holdings in Wipro by 9.0% during the second quarter. BlackRock Inc. now owns 22,038,581 shares of the information technology services provider’s stock worth $105,564,000 after purchasing an additional 1,812,203 shares during the last quarter. First Trust Advisors LP boosted its holdings in Wipro by 42.6% during the second quarter. First Trust Advisors LP now owns 9,454,582 shares of the information technology services provider’s stock worth $45,287,000 after purchasing an additional 2,825,983 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Wipro by 3.4% during the third quarter. Fisher Asset Management LLC now owns 3,970,781 shares of the information technology services provider’s stock worth $20,688,000 after purchasing an additional 131,267 shares during the last quarter. Aperio Group LLC boosted its holdings in Wipro by 14.6% during the third quarter. Aperio Group LLC now owns 3,268,912 shares of the information technology services provider’s stock worth $17,031,000 after purchasing an additional 417,681 shares during the last quarter. Finally, Credit Suisse AG boosted its holdings in Wipro by 2.9% during the third quarter. Credit Suisse AG now owns 1,601,350 shares of the information technology services provider’s stock worth $8,343,000 after purchasing an additional 45,528 shares during the last quarter. Hedge funds and other institutional investors own 2.25% of the company’s stock.

WIT opened at $5.21 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.49 and a current ratio of 2.51. The stock has a market capitalization of $23.64 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 2.72 and a beta of 0.46. Wipro Limited has a twelve month low of $4.50 and a twelve month high of $5.99.

Wipro (NYSE:WIT) last released its earnings results on Wednesday, October 24th. The information technology services provider reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Wipro had a net margin of 13.84% and a return on equity of 15.63%. As a group, research analysts anticipate that Wipro Limited will post 0.27 earnings per share for the current fiscal year.

Several research firms recently weighed in on WIT. Zacks Investment Research upgraded shares of Wipro from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. ValuEngine upgraded shares of Wipro from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Macquarie upgraded shares of Wipro from a “neutral” rating to an “outperform” rating in a report on Monday, September 10th. TheStreet cut shares of Wipro from a “b-” rating to a “c” rating in a report on Wednesday, October 24th. Finally, Credit Suisse Group upgraded shares of Wipro from a “neutral” rating to an “outperform” rating in a report on Thursday, September 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $6.00.

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Wipro 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.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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