Fisher Asset Management LLC maintained its stake in shares of Wipro Ltd. (NYSE:WIT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,854,321 shares of the company’s stock at the end of the third quarter. Fisher Asset Management LLC’s holdings in Wipro were worth $18,005,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. AQR Capital Management LLC boosted its stake in shares of Wipro by 2.3% in the second quarter. AQR Capital Management LLC now owns 6,509,182 shares of the company’s stock worth $80,453,000 after buying an additional 146,062 shares during the last quarter. Vanguard Group Inc. boosted its stake in Wipro by 3.4% in the second quarter. Vanguard Group Inc. now owns 5,841,292 shares of the company’s stock valued at $72,198,000 after buying an additional 190,666 shares in the last quarter. State Street Corp boosted its stake in Wipro by 12.1% in the second quarter. State Street Corp now owns 2,524,596 shares of the company’s stock valued at $31,204,000 after buying an additional 272,145 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Wipro by 24.4% in the second quarter. BlackRock Fund Advisors now owns 2,161,966 shares of the company’s stock valued at $26,722,000 after buying an additional 424,554 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Wipro by 223.8% in the second quarter. JPMorgan Chase & Co. now owns 2,024,255 shares of the company’s stock valued at $25,020,000 after buying an additional 1,399,184 shares in the last quarter. 2.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Wipro Ltd. (NYSE:WIT) traded up 3.19% on Friday, hitting $9.70. 360,503 shares of the stock traded hands. The company’s 50 day moving average is $9.58 and its 200 day moving average is $10.84. The stock has a market cap of $23.44 billion, a price-to-earnings ratio of 18.87 and a beta of 1.00. Wipro Ltd. has a one year low of $9.09 and a one year high of $13.08.
Wipro (NYSE:WIT) last issued its quarterly earnings data on Friday, October 21st. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. Wipro had a net margin of 15.96% and a return on equity of 18.06%. The company had revenue of $137.66 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $9.08 earnings per share. Wipro’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that Wipro Ltd. will post $0.54 EPS for the current year.
Several equities research analysts have issued reports on WIT shares. TheStreet cut shares of Wipro from a “buy” rating to a “hold” rating in a research note on Friday, September 16th. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th. Nomura cut shares of Wipro from a “neutral” rating to a “reduce” rating in a research note on Monday, October 24th. Wedbush started coverage on shares of Wipro in a research note on Thursday, September 8th. They set an “underperform” rating and a $8.50 price target on the stock. Finally, HSBC cut shares of Wipro from a “hold” rating to a “reduce” rating in a research note on Tuesday, August 9th. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of “Sell” and a consensus price target of $11.17.
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.