Rhumbline Advisers Decreases Stake in Wipro Limited (NYSE:WIT)

Rhumbline Advisers decreased its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,668,724 shares of the information technology services provider's stock after selling 832,501 shares during the quarter. Rhumbline Advisers' holdings in Wipro were worth $8,166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WIT. HighTower Advisors LLC increased its position in shares of Wipro by 292.0% during the 4th quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider's stock worth $221,000 after purchasing an additional 46,432 shares during the last quarter. Barclays PLC purchased a new position in Wipro during the fourth quarter worth about $461,000. Northern Trust Corp increased its position in shares of Wipro by 172.8% during 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 acquiring an additional 1,697,118 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Wipro by 100.0% in the 4th quarter. Legal & General Group Plc now owns 106,088 shares of the information technology services provider's stock valued at $375,000 after acquiring an additional 53,044 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Wipro by 89.8% in the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider's stock worth $1,235,000 after acquiring an additional 165,076 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wipro Stock Up 0.7%

Shares of NYSE WIT traded up $0.02 during midday trading on Thursday, hitting $3.02. The company's stock had a trading volume of 5,884,439 shares, compared to its average volume of 5,013,847. Wipro Limited has a 1 year low of $2.63 and a 1 year high of $3.79. The business's fifty day simple moving average is $2.87 and its two-hundred day simple moving average is $3.51. The firm has a market capitalization of $31.59 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 3.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, equities analysts predict that Wipro Limited will post 0.14 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Wipro currently has a consensus rating of "Hold".

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.