B. Metzler seel. Sohn & Co. AG Purchases New Stake in Wipro Limited $WIT

Key Points

• B. Metzler seel. Sohn & Co. AG purchased a new stake of 1,784,104 Wipro shares in Q4, valued at approximately $5.08 million, according to its latest Form 13F filing.
• Analysts have been downgrading Wipro—Morgan Stanley moved to "underweight" and Weiss Ratings lowered to "hold (c-)"—leaving a MarketBeat consensus rating of "Reduce".
• Wipro shares opened at $2.03 with a market cap of $21.21 billion; the company reported Q earnings that matched EPS estimates ($0.04) but slightly missed revenue, and institutional ownership is only 2.36%.

B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Wipro Limited (NYSE:WIT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,784,104 shares of the information technology services provider's stock, valued at approximately $5,075,000.

Other large investors have also recently bought and sold shares of the company. Walkner Condon Financial Advisors LLC acquired a new position in Wipro during the third quarter valued at $27,000. Interchange Capital Partners LLC purchased a new position in Wipro in the third quarter valued at about $27,000. Curi Capital LLC purchased a new position in Wipro in the second quarter valued at about $31,000. Clarendon Private LLC purchased a new position in Wipro in the third quarter valued at about $32,000. Finally, Aspiring Ventures LLC purchased a new position in Wipro in the third quarter valued at about $32,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on WIT. Morgan Stanley downgraded Wipro to an "underweight" rating in a research note on Monday, January 19th. Weiss Ratings downgraded Wipro from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Wipro currently has a consensus rating of "Reduce".

Wipro Price Performance

Shares of NYSE WIT opened at $2.03 on Friday. The company has a market capitalization of $21.21 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 4.62 and a beta of 1.06. The business's 50-day moving average price is $2.21 and its two-hundred day moving average price is $2.54. Wipro Limited has a one year low of $2.01 and a one year high of $3.13.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings results on Friday, April 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.65 billion. Wipro had a return on equity of 14.97% and a net margin of 14.25%. On average, equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current 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.

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