Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Wipro Limited (NYSE:WIT) by 29.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 287,409 shares of the information technology services provider’s stock after selling 118,204 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wipro were worth $891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eqis Capital Management Inc. grew its stake in Wipro by 29.3% during the fourth quarter. Eqis Capital Management Inc. now owns 318,364 shares of the information technology services provider’s stock worth $1,194,000 after buying an additional 72,170 shares during the period. AQR Capital Management LLC grew its stake in Wipro by 10.3% during the fourth quarter. AQR Capital Management LLC now owns 7,360,279 shares of the information technology services provider’s stock worth $27,601,000 after buying an additional 684,788 shares during the period. Credit Suisse AG grew its stake in Wipro by 30.2% during the fourth quarter. Credit Suisse AG now owns 987,642 shares of the information technology services provider’s stock worth $3,704,000 after buying an additional 228,913 shares during the period. First Trust Advisors LP grew its stake in Wipro by 24.7% during the first quarter. First Trust Advisors LP now owns 3,735,160 shares of the information technology services provider’s stock worth $11,579,000 after buying an additional 740,912 shares during the period. Finally, Aperio Group LLC boosted its stake in shares of Wipro by 30.1% in the first quarter. Aperio Group LLC now owns 5,395,841 shares of the information technology services provider’s stock valued at $16,727,000 after purchasing an additional 1,248,241 shares during the period. Institutional investors own 2.18% of the company’s stock.

NYSE WIT opened at $3.00 on Friday. Wipro Limited has a 12 month low of $2.52 and a 12 month high of $4.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 2.39. The company has a market capitalization of $17.85 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.55. The company’s fifty day moving average price is $3.02 and its two-hundred day moving average price is $3.47.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Wednesday, April 15th. The information technology services provider reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). Wipro had a net margin of 15.95% and a return on equity of 17.57%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.18 billion. As a group, analysts anticipate that Wipro Limited will post 0.2 EPS for the current year.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Wipro from a “sell” rating to a “hold” rating in a research note on Thursday, March 12th. JPMorgan Chase & Co. assumed coverage on shares of Wipro in a research note on Thursday, February 20th. They issued an “underweight” rating for the company. Finally, Jefferies Financial Group upgraded shares of Wipro from an “underperform” rating to a “hold” rating in a research note on Wednesday, March 25th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Wipro has a consensus rating of “Hold” and an average target price of $3.86.

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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