LMR Partners LLP Has $5.82 Million Stock Holdings in Wipro Limited (NYSE:WIT)

LMR Partners LLP cut its stake in Wipro Limited (NYSE:WIT) by 10.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 897,852 shares of the information technology services provider’s stock after selling 107,851 shares during the quarter. LMR Partners LLP’s holdings in Wipro were worth $5,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of WIT. Millennium Management LLC lifted its stake in shares of Wipro by 67.6% in the second quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider’s stock valued at $34,298,000 after buying an additional 2,267,995 shares during the period. Jane Street Group LLC raised its position in Wipro by 292.0% in the 1st quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after purchasing an additional 1,001,644 shares during the last quarter. Creative Planning raised its position in Wipro by 24.6% in the 3rd quarter. Creative Planning now owns 1,337,344 shares of the information technology services provider’s stock worth $8,666,000 after purchasing an additional 263,925 shares during the last quarter. Marshall Wace LLP acquired a new stake in Wipro during the 2nd quarter worth $7,994,000. Finally, Candriam S.C.A. grew its holdings in Wipro by 43.6% during the 2nd quarter. Candriam S.C.A. now owns 870,000 shares of the information technology services provider’s stock worth $5,307,000 after acquiring an additional 264,000 shares during the period. 2.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WIT. StockNews.com lowered shares of Wipro from a “buy” rating to a “hold” rating in a report on Monday. Investec cut shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.60.

Wipro Trading Down 0.4 %

NYSE:WIT opened at $6.70 on Tuesday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $34.98 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 4.54 and a beta of 0.89. The firm has a fifty day simple moving average of $6.55 and a two-hundred day simple moving average of $6.13. Wipro Limited has a 12 month low of $4.67 and a 12 month high of $7.04.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Wipro had a net margin of 13.23% and a return on equity of 14.98%. Analysts expect that Wipro Limited will post 0.27 EPS for the current fiscal year.

About Wipro

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.