Public Employees Retirement System of Ohio Lowers Stake in Wipro Limited $WIT

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in Wipro Limited by 23.7%, selling 113,058 shares and now holding 364,047 shares worth approximately $1,099,000.
• Wipro Limited recently reported earnings per share (EPS) of $0.04 for the quarter, meeting the consensus estimate, with revenue of $2.58 billion.
• Wipro has cut its dividend payout to $0.057 per share, yielding a remarkable 409.9% while maintaining a dividend payout ratio of 62.50%.

Public Employees Retirement System of Ohio reduced its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 23.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 364,047 shares of the information technology services provider's stock after selling 113,058 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Wipro were worth $1,099,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Wipro by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,692 shares of the information technology services provider's stock valued at $278,000 after acquiring an additional 5,103 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Wipro in the first quarter valued at about $90,000. GAMMA Investing LLC raised its holdings in shares of Wipro by 182.7% in the first quarter. GAMMA Investing LLC now owns 65,291 shares of the information technology services provider's stock valued at $200,000 after acquiring an additional 42,192 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Wipro by 89.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,432 shares of the information technology services provider's stock valued at $1,704,000 after acquiring an additional 227,875 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Wipro by 63.5% in the first quarter. Cerity Partners LLC now owns 970,796 shares of the information technology services provider's stock valued at $2,971,000 after acquiring an additional 376,892 shares in the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Up 0.2%

WIT opened at $2.63 on Friday. Wipro Limited has a 52-week low of $2.58 and a 52-week high of $3.79. The company has a market cap of $27.48 billion, a P/E ratio of 16.94 and a beta of 1.00. The firm's 50-day moving average price is $2.74 and its 200-day moving average price is $2.87.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 15.07% and a return on equity of 15.94%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $219.23 billion. On average, research analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 28th were issued a dividend of $0.057 per share. The ex-dividend date was Monday, July 28th. This represents a dividend yield of 409.9%. Wipro's dividend payout ratio is 62.50%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WIT shares. Weiss Ratings restated a "hold (c+)" rating on shares of Wipro in a report on Saturday, September 27th. Morgan Stanley upgraded Wipro from an "underweight" rating to an "equal weight" rating in a report on Friday, June 20th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce".

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.

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