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Envestnet Asset Management Inc. Trims Stock Holdings in WPP PLC (NYSE:WPP)

WPP logo with Business Services background

Envestnet Asset Management Inc. reduced its holdings in WPP PLC (NYSE:WPP - Free Report) by 28.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,752 shares of the business services provider's stock after selling 51,910 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of WPP worth $5,001,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WPP. Invesco Ltd. raised its holdings in WPP by 11.9% in the 4th quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider's stock valued at $83,472,000 after buying an additional 172,212 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of WPP by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider's stock worth $24,928,000 after acquiring an additional 35,412 shares in the last quarter. Northern Trust Corp boosted its position in shares of WPP by 83.5% during the 4th quarter. Northern Trust Corp now owns 253,640 shares of the business services provider's stock worth $13,037,000 after acquiring an additional 115,416 shares in the last quarter. Optiver Holding B.V. boosted its position in shares of WPP by 104.6% in the 4th quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider's stock valued at $7,272,000 after purchasing an additional 72,342 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of WPP by 20.4% in the 4th quarter. Bank of Montreal Can now owns 134,524 shares of the business services provider's stock valued at $6,915,000 after purchasing an additional 22,770 shares during the period. Hedge funds and other institutional investors own 4.34% of the company's stock.

WPP Trading Up 0.2%

Shares of WPP stock traded up $0.06 during trading hours on Friday, hitting $29.27. 344,588 shares of the company's stock traded hands, compared to its average volume of 605,181. WPP PLC has a 12 month low of $27.53 and a 12 month high of $57.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00. The stock's 50 day simple moving average is $35.36 and its 200 day simple moving average is $39.43. The stock has a market cap of $6.32 billion, a PE ratio of 4.90 and a beta of 1.00.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a research note on Thursday, July 10th. Wall Street Zen downgraded WPP from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Barclays reiterated an "underweight" rating on shares of WPP in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, WPP currently has a consensus rating of "Moderate Buy".

Check Out Our Latest Analysis on WPP

WPP Profile

(Free Report)

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.

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Institutional Ownership by Quarter for WPP (NYSE:WPP)

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