Migdal Insurance & Financial Holdings Ltd. Has $960,000 Stake in Wipro Limited (NYSE:WIT)

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 38.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 313,752 shares of the information technology services provider's stock after selling 200,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.'s holdings in Wipro were worth $960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WIT. Farther Finance Advisors LLC lifted its position in shares of Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 4,851 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in Wipro during the fourth quarter worth $35,000. KLP Kapitalforvaltning AS acquired a new stake in Wipro during the fourth quarter worth $37,000. CogentBlue Wealth Advisors LLC acquired a new stake in Wipro during the first quarter worth $37,000. Finally, Legacy Advisors LLC acquired a new stake in Wipro during the first quarter worth $40,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WIT shares. Morgan Stanley raised Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Finally, Jefferies Financial Group downgraded Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold".

Wipro Trading Down 2.0%

Shares of WIT stock traded down $0.06 during mid-day trading on Friday, hitting $3.00. 4,827,901 shares of the company's stock were exchanged, compared to its average volume of 5,054,661. Wipro Limited has a fifty-two week low of $2.63 and a fifty-two week high of $3.79. The stock has a 50-day simple moving average of $2.97 and a two-hundred day simple moving average of $3.14. The company has a quick ratio of 2.71, a current ratio of 2.72 and a debt-to-equity ratio of 0.08. The stock has a market cap of $31.38 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 8.45 and a beta of 1.02.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 16.07% and a net margin of 15.07%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $219.23 billion. Equities analysts expect that Wipro Limited will post 0.14 EPS for the current fiscal 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.