Wipro Limited $WIT Shares Sold by Integrated Quantitative Investments LLC

Integrated Quantitative Investments LLC decreased its position in shares of Wipro Limited (NYSE:WIT) by 30.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 522,983 shares of the information technology services provider’s stock after selling 232,433 shares during the quarter. Integrated Quantitative Investments LLC’s holdings in Wipro were worth $1,375,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in Wipro by 298.9% during the second quarter. Bank of America Corp DE now owns 7,690,677 shares of the information technology services provider’s stock worth $23,226,000 after buying an additional 5,762,771 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Wipro by 43.4% during the 3rd quarter. Penserra Capital Management LLC now owns 9,242,466 shares of the information technology services provider’s stock worth $24,307,000 after acquiring an additional 2,796,059 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Wipro by 22.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider’s stock valued at $31,683,000 after acquiring an additional 1,864,943 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Wipro by 17.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 9,965,693 shares of the information technology services provider’s stock valued at $30,096,000 after purchasing an additional 1,466,462 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Wipro by 24.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,096,868 shares of the information technology services provider’s stock valued at $18,665,000 after purchasing an additional 1,384,264 shares in the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Wipro Stock Performance

Shares of WIT stock opened at $2.21 on Thursday. Wipro Limited has a fifty-two week low of $2.11 and a fifty-two week high of $3.33. The stock’s fifty day moving average is $2.58 and its two-hundred day moving average is $2.68. The firm has a market capitalization of $23.15 billion, a P/E ratio of 15.79, a PEG ratio of 8.78 and a beta of 1.07.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Wednesday, January 21st. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $2.63 billion. On average, equities analysts forecast that Wipro Limited will post 0.14 earnings per share for the current year.

Wipro Profile

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.