Goldman Sachs Group Inc. Has $28.65 Million Position in Wipro Limited (NYSE:WIT)

Goldman Sachs Group Inc. lessened its holdings in Wipro Limited (NYSE:WIT) by 41.8% during the fourth quarter, HoldingsChannel reports. The firm owned 5,143,091 shares of the information technology services provider’s stock after selling 3,697,327 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Wipro were worth $28,647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Wipro by 4.6% in the third quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock worth $60,368,000 after acquiring an additional 553,433 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Wipro by 112.7% during the fourth quarter. BNP Paribas Financial Markets now owns 3,722,483 shares of the information technology services provider’s stock valued at $20,734,000 after purchasing an additional 1,972,425 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Wipro by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 2,312,160 shares of the information technology services provider’s stock valued at $12,879,000 after buying an additional 83,519 shares during the last quarter. Rhumbline Advisers boosted its position in Wipro by 4.7% during the 3rd quarter. Rhumbline Advisers now owns 1,930,460 shares of the information technology services provider’s stock worth $9,343,000 after buying an additional 86,226 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Wipro by 25.8% during the third quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock valued at $9,238,000 after acquiring an additional 390,947 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Three research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.30.

Wipro Stock Performance

NYSE:WIT opened at $5.88 on Monday. The company has a market capitalization of $30.69 billion, a PE ratio of 23.52, a P/E/G ratio of 4.06 and a beta of 0.85. Wipro Limited has a fifty-two week low of $4.48 and a fifty-two week high of $6.45. The company has a 50 day simple moving average of $5.44 and a two-hundred day simple moving average of $5.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.57 and a current ratio of 2.58.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Friday, April 19th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Wipro had a return on equity of 15.60% and a net margin of 12.29%. Research analysts anticipate that Wipro Limited will post 0.27 earnings per share for the current year.

Wipro 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.