Penserra Capital Management LLC Has $13.82 Million Stock Position in Wipro Limited (NYSE:WIT)

Penserra Capital Management LLC lifted its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 41.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,517,030 shares of the information technology services provider's stock after buying an additional 1,313,832 shares during the period. Penserra Capital Management LLC's holdings in Wipro were worth $13,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bell Investment Advisors Inc boosted its position in shares of Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 3,631 shares during the period. Farther Finance Advisors LLC boosted its position in shares of 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 period. Focus Partners Advisor Solutions LLC purchased a new position in shares of Wipro during the 4th quarter worth approximately $35,000. Freestone Capital Holdings LLC purchased a new position in shares of Wipro during the 4th quarter worth approximately $36,000. Finally, Callan Family Office LLC purchased a new position in shares of Wipro during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group cut shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Morgan Stanley raised shares of Wipro from an "underweight" rating to an "equal weight" rating in a research report on Friday, June 20th. Finally, Wall Street Zen raised shares of Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Wipro Price Performance

Shares of NYSE WIT traded up $0.04 on Tuesday, hitting $3.12. The company's stock had a trading volume of 675,537 shares, compared to its average volume of 4,933,829. The stock has a 50 day moving average of $2.95 and a 200-day moving average of $3.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.72 and a quick ratio of 2.71. The company has a market capitalization of $32.58 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 8.97 and a beta of 1.02. Wipro Limited has a 12-month low of $2.63 and a 12-month high of $3.79.

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

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.