Migdal Insurance & Financial Holdings Ltd. Lowers Stock Holdings in Wipro Limited (NYSE:WIT)

Migdal Insurance & Financial Holdings Ltd. lessened its position in Wipro Limited (NYSE:WIT - Free Report) by 38.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Wipro by 92.0% in the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock valued at $82,692,000 after buying an additional 11,196,013 shares during the period. BNP Paribas Financial Markets increased its holdings in Wipro by 36.4% during the fourth quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider's stock worth $55,925,000 after buying an additional 4,215,981 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of 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 valued at $34,280,000 after buying an additional 6,195,561 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Wipro by 41.5% in the fourth quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider's stock valued at $30,956,000 after purchasing an additional 2,566,388 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Wipro in the 4th quarter worth approximately $20,008,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Wipro Price Performance

Shares of Wipro stock traded down $0.02 on Tuesday, hitting $2.96. The company's stock had a trading volume of 6,710,233 shares, compared to its average volume of 5,056,506. The company has a market capitalization of $30.91 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 10.57 and a beta of 1.02. Wipro Limited has a 1 year low of $2.63 and a 1 year high of $3.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.72. The firm has a fifty day moving average price of $2.97 and a 200-day moving average price of $3.14.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting analysts' consensus estimates 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. As a group, sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

About Wipro

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.