Bluestein R H & Co. Grows Position in Wipro Limited (WIT)

Bluestein R H & Co. increased its position in shares of Wipro Limited (NYSE:WIT) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,000 shares of the information technology services provider’s stock after purchasing an additional 20,000 shares during the quarter. Bluestein R H & Co.’s holdings in Wipro were worth $341,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WIT. US Bancorp DE lifted its holdings in shares of Wipro by 261.7% during the second quarter. US Bancorp DE now owns 62,806 shares of the information technology services provider’s stock worth $327,000 after purchasing an additional 45,442 shares during the period. Acadian Asset Management LLC lifted its holdings in Wipro by 100.0% in the second quarter. Acadian Asset Management LLC now owns 327,790 shares of the information technology services provider’s stock valued at $1,705,000 after acquiring an additional 163,895 shares during the period. Shell Asset Management Co. acquired a new position in Wipro in the second quarter valued at approximately $805,000. State of New Jersey Common Pension Fund D lifted its holdings in Wipro by 359.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 337,200 shares of the information technology services provider’s stock valued at $1,753,000 after acquiring an additional 263,800 shares during the period. Finally, Wetherby Asset Management Inc. lifted its holdings in Wipro by 116.4% in the second quarter. Wetherby Asset Management Inc. now owns 117,847 shares of the information technology services provider’s stock valued at $613,000 after acquiring an additional 63,397 shares during the period. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Limited (NYSE:WIT) traded up $0.06 during trading on Wednesday, hitting $5.18. The stock had a trading volume of 1,894,000 shares, compared to its average volume of 1,396,820. The stock has a market capitalization of $24,892.41, a PE ratio of 18.62, a PEG ratio of 2.56 and a beta of 0.74. Wipro Limited has a 1-year low of $4.50 and a 1-year high of $6.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.53 and a quick ratio of 2.52.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Wipro had a return on equity of 16.14% and a net margin of 15.77%. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.17 billion. equities analysts forecast that Wipro Limited will post 0.25 EPS for the current fiscal year.

A number of analysts have recently commented on the company. BidaskClub cut Wipro from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. BNP Paribas cut Wipro from a “hold” rating to a “reduce” rating in a research report on Thursday, September 14th. Finally, Goldman Sachs Group cut Wipro from a “neutral” rating to a “sell” rating in a research report on Sunday, September 17th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $141.50.

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Wipro Company Profile

Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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