Jane Street Group LLC Reduces Stake in Wipro Limited (NYSE:WIT)

Jane Street Group LLC lessened its holdings in Wipro Limited (NYSE:WIT - Free Report) by 83.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,780 shares of the information technology services provider's stock after selling 401,274 shares during the period. Jane Street Group LLC's holdings in Wipro were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of WIT. Vanguard Group Inc. lifted its stake in Wipro by 92.0% during the 4th quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock worth $82,692,000 after acquiring an additional 11,196,013 shares in the last quarter. Schroder Investment Management Group lifted its stake in Wipro by 177.6% during the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider's stock worth $34,280,000 after acquiring an additional 6,195,561 shares in the last quarter. Marshall Wace LLP acquired a new position in Wipro during the 4th quarter worth about $20,008,000. Fisher Asset Management LLC lifted its stake in Wipro by 97.9% during the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider's stock worth $26,636,000 after acquiring an additional 3,722,115 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Wipro during the 4th quarter worth about $12,795,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Analysts Set New Price Targets

WIT has been the topic of several research reports. Jefferies Financial Group lowered Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold".

Wipro Stock Up 0.7%

NYSE WIT traded up $0.02 during trading hours on Friday, hitting $2.88. 2,914,931 shares of the company were exchanged, compared to its average volume of 5,011,749. The company has a 50 day moving average of $2.86 and a two-hundred day moving average of $3.62. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 52-week low of $2.63 and a 52-week high of $3.79. The firm has a market cap of $30.13 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.08 and a beta of 1.02.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. Equities research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.