Thrivent Financial for Lutherans Takes $1.89 Million Position in Wipro Limited $WIT

Thrivent Financial for Lutherans acquired a new position in Wipro Limited (NYSE:WIT) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 718,538 shares of the information technology services provider’s stock, valued at approximately $1,890,000.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd raised its position in Wipro by 16.0% in the second quarter. R Squared Ltd now owns 27,810 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 3,830 shares during the period. Tidal Investments LLC boosted its position in shares of Wipro by 19.3% during the second quarter. Tidal Investments LLC now owns 27,260 shares of the information technology services provider’s stock worth $82,000 after buying an additional 4,403 shares during the period. Fragasso Financial Advisors Inc grew its stake in shares of Wipro by 30.5% in the third quarter. Fragasso Financial Advisors Inc now owns 19,317 shares of the information technology services provider’s stock valued at $51,000 after buying an additional 4,511 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Wipro by 6.5% in the 3rd quarter. Diversified Trust Co now owns 82,813 shares of the information technology services provider’s stock valued at $218,000 after buying an additional 5,036 shares during the period. Finally, Cresset Asset Management LLC lifted its stake in Wipro by 10.2% during the 2nd quarter. Cresset Asset Management LLC now owns 55,883 shares of the information technology services provider’s stock worth $169,000 after acquiring an additional 5,166 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analyst Ratings Changes

WIT has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Wipro in a report on Thursday, October 30th. CLSA cut shares of Wipro from an “outperform” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Morgan Stanley cut shares of Wipro to an “underweight” rating in a report on Monday, January 19th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Wipro Price Performance

Shares of NYSE WIT opened at $2.39 on Thursday. The company has a market cap of $24.98 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 9.98 and a beta of 1.05. The stock’s 50-day moving average is $2.77 and its two-hundred day moving average is $2.73. Wipro Limited has a 1-year low of $2.37 and a 1-year high of $3.69.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Wednesday, January 21st. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.35% and a net margin of 14.61%.The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Equities research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

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.