Natixis Advisors LLC lowered its position in Wipro Limited (NYSE:WIT – Free Report) by 63.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,105 shares of the information technology services provider’s stock after selling 198,913 shares during the quarter. Natixis Advisors LLC’s holdings in Wipro were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in WIT. GAMMA Investing LLC increased its position in Wipro by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 1,858 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Wipro during the first quarter valued at $60,000. Atomi Financial Group Inc. raised its stake in shares of Wipro by 29.4% during the first quarter. Atomi Financial Group Inc. now owns 13,305 shares of the information technology services provider’s stock valued at $77,000 after purchasing an additional 3,023 shares in the last quarter. Advisors Preferred LLC acquired a new stake in Wipro in the first quarter worth about $79,000. Finally, Dynamic Advisor Solutions LLC grew its position in Wipro by 13.6% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,091 shares of the information technology services provider’s stock valued at $86,000 after buying an additional 1,692 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.
Wipro Stock Performance
NYSE:WIT opened at $6.36 on Friday. The company has a 50-day moving average of $6.20 and a 200-day moving average of $5.86. The firm has a market cap of $33.19 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 4.26 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.08. Wipro Limited has a twelve month low of $4.48 and a twelve month high of $7.01.
Wall Street Analyst Weigh In
A number of research firms have commented on WIT. Nomura Securities upgraded shares of Wipro to a “strong-buy” rating in a research report on Tuesday, July 2nd. Nomura began coverage on Wipro in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.60.
Check Out Our Latest Analysis on WIT
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.
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