Natixis Advisors LLC decreased its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 33.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 224,903 shares of the information technology services provider's stock after selling 111,824 shares during the quarter. Natixis Advisors LLC's holdings in Wipro were worth $688,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC purchased a new stake in Wipro during the fourth quarter worth approximately $461,000. Northern Trust Corp lifted its stake in Wipro by 172.8% in the fourth quarter. Northern Trust Corp now owns 2,679,066 shares of the information technology services provider's stock valued at $9,484,000 after buying an additional 1,697,118 shares during the last quarter. Legal & General Group Plc lifted its stake in Wipro by 100.0% in the fourth quarter. Legal & General Group Plc now owns 106,088 shares of the information technology services provider's stock valued at $375,000 after buying an additional 53,044 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Wipro by 116.5% in the fourth quarter. Wells Fargo & Company MN now owns 16,370 shares of the information technology services provider's stock valued at $58,000 after buying an additional 8,808 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Wipro by 68.1% in the fourth quarter. Invesco Ltd. now owns 335,023 shares of the information technology services provider's stock valued at $1,186,000 after buying an additional 135,766 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company's stock.
Wipro Price Performance
Shares of NYSE:WIT traded up $0.03 during trading on Friday, reaching $2.74. The company had a trading volume of 679,158 shares, compared to its average volume of 6,212,020. The firm has a market capitalization of $28.61 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 9.95 and a beta of 0.93. The stock's fifty day moving average price is $2.92 and its 200 day moving average price is $3.04. Wipro Limited has a fifty-two week low of $2.62 and a fifty-two week high of $3.79.
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, hitting analysts' consensus estimates of $0.04. Wipro had a return on equity of 15.94% and a net margin of 15.07%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $219.23 billion. On average, equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on WIT shares. Morgan Stanley upgraded Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Wall Street Zen upgraded 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, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".
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Wipro Profile
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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.
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