Vanguard Group Inc. Has $60.37 Million Holdings in Wipro Limited (NYSE:WIT)

Vanguard Group Inc. increased its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,472,687 shares of the information technology services provider's stock after acquiring an additional 553,433 shares during the quarter. Vanguard Group Inc. owned about 0.24% of Wipro worth $60,368,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Wipro by 23.1% in the second quarter. BlackRock Inc. now owns 29,106,981 shares of the information technology services provider's stock worth $137,385,000 after purchasing an additional 5,454,757 shares in the last quarter. Morgan Stanley lifted its position in shares of Wipro by 23.5% in the fourth quarter. Morgan Stanley now owns 13,757,038 shares of the information technology services provider's stock worth $64,108,000 after purchasing an additional 2,621,127 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Wipro by 50.1% in the third quarter. Acadian Asset Management LLC now owns 6,786,259 shares of the information technology services provider's stock worth $32,837,000 after purchasing an additional 2,265,859 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Wipro by 19.1% in the second quarter. Goldman Sachs Group Inc. now owns 12,301,682 shares of the information technology services provider's stock worth $58,064,000 after purchasing an additional 1,977,079 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Wipro in the first quarter worth $10,052,000. Institutional investors own 2.36% of the company's stock.

Wipro Stock Performance

Shares of NYSE:WIT traded down $0.14 on Monday, hitting $5.62. The company had a trading volume of 6,632,153 shares, compared to its average volume of 2,686,266. Wipro Limited has a 1-year low of $4.32 and a 1-year high of $6.45. The stock has a market cap of $29.32 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.31 and a beta of 0.87. The stock has a 50 day moving average price of $5.98 and a 200 day moving average price of $5.37. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings data on Friday, January 12th. The information technology services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Wipro had a net margin of 12.42% and a return on equity of 15.68%. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.76 billion. Analysts expect that Wipro Limited will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

WIT has been the topic of a number of research reports. TheStreet raised shares of Wipro from a "c+" rating to a "b-" rating in a research report on Friday, January 12th. BNP Paribas initiated coverage on shares of Wipro in a report on Wednesday, January 17th. They set an "underperform" rating and a $5.20 target price on the stock. Wedbush boosted their target price on shares of Wipro from $4.00 to $6.00 and gave the stock an "underperform" rating in a report on Tuesday, January 16th. Finally, StockNews.com downgraded shares of Wipro from a "buy" rating to a "hold" rating in a report on Friday. Four investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $5.05.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.