Vanguard Group Inc. Has $60.14 Million Stock Holdings in Wipro Limited $WIT

Vanguard Group Inc. decreased its stake in shares of Wipro Limited (NYSE:WIT) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,868,459 shares of the information technology services provider’s stock after selling 454,253 shares during the period. Vanguard Group Inc. owned 0.22% of Wipro worth $60,144,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of WIT. Curi Capital LLC acquired a new stake in Wipro during the second quarter worth approximately $31,000. Walkner Condon Financial Advisors LLC acquired a new position in shares of Wipro in the third quarter valued at approximately $27,000. Clarendon Private LLC bought a new position in shares of Wipro during the third quarter worth approximately $32,000. CW Advisors LLC bought a new position in shares of Wipro during the second quarter worth approximately $39,000. Finally, Atlas Legacy Advisors LLC acquired a new stake in Wipro during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Up 4.1%

Shares of Wipro stock opened at $2.31 on Friday. The stock has a market capitalization of $24.20 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 8.86 and a beta of 1.07. Wipro Limited has a twelve month low of $2.11 and a twelve month high of $3.29. The company has a 50-day simple moving average of $2.55 and a two-hundred day simple moving average of $2.67.

Wipro (NYSE:WIT) last announced its earnings results on Wednesday, January 21st. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a net margin of 14.61% and a return on equity of 15.35%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.63 billion. On average, sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded Wipro to an “underweight” rating in a research note on Monday, January 19th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

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.