Perpetual Ltd Purchases Shares of 820,300 Wipro Limited (NYSE:WIT)

Perpetual Ltd purchased a new stake in Wipro Limited (NYSE:WIT - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 820,300 shares of the information technology services provider's stock, valued at approximately $2,510,000.

Other institutional investors have also added to or reduced their stakes in the company. Bell Investment Advisors Inc increased its holdings in shares of Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after acquiring an additional 3,631 shares in the last quarter. Farther Finance Advisors LLC grew its position in Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 4,851 shares during the last quarter. Geode Capital Management LLC increased its stake in Wipro by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 68,860 shares of the information technology services provider's stock valued at $244,000 after purchasing an additional 6,323 shares in the last quarter. Optas LLC increased its stake in Wipro by 19.7% during the 1st quarter. Optas LLC now owns 41,314 shares of the information technology services provider's stock valued at $126,000 after purchasing an additional 6,801 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Wipro by 4.5% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 195,194 shares of the information technology services provider's stock worth $691,000 after buying an additional 8,322 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Analyst Upgrades and Downgrades

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

Wipro Stock Performance

NYSE WIT traded up $0.03 on Tuesday, hitting $3.05. 5,049,805 shares of the company's stock traded hands, compared to its average volume of 4,936,600. The firm's 50-day moving average price is $2.93 and its two-hundred day moving average price is $3.19. The firm has a market capitalization of $31.90 billion, a PE ratio of 20.33, a P/E/G ratio of 8.71 and a beta of 1.02. The company has a current ratio of 2.72, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. Wipro Limited has a 1-year low of $2.63 and a 1-year high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a net margin of 14.73% and a return on equity of 15.97%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion. As a group, analysts expect that Wipro Limited will post 0.14 EPS for the current year.

Wipro 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.