Sequoia Financial Advisors LLC Sells 7,736 Shares of Wipro Limited (NYSE:WIT)

Sequoia Financial Advisors LLC decreased its position in shares of Wipro Limited (NYSE:WIT) by 4.6% during the 4th quarter, Holdings Channel reports. The fund owned 159,198 shares of the information technology services provider’s stock after selling 7,736 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Wipro were worth $887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Wipro by 23.1% during the 2nd quarter. BlackRock Inc. now owns 29,106,981 shares of the information technology services provider’s stock worth $137,385,000 after acquiring an additional 5,454,757 shares during the last quarter. Morgan Stanley boosted its stake in Wipro by 23.5% during the 4th quarter. Morgan Stanley now owns 13,757,038 shares of the information technology services provider’s stock worth $64,108,000 after acquiring an additional 2,621,127 shares during the last quarter. Vanguard Group Inc. boosted its stake in Wipro by 4.6% during the 3rd 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. Goldman Sachs Group Inc. boosted its stake in Wipro by 19.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 12,301,682 shares of the information technology services provider’s stock worth $58,064,000 after acquiring an additional 1,977,079 shares during the last quarter. Finally, State Street Corp lifted its stake in Wipro by 1.3% in the first quarter. State Street Corp now owns 10,370,638 shares of the information technology services provider’s stock valued at $79,953,000 after buying an additional 134,870 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Wipro Stock Performance

Shares of WIT stock opened at $5.46 on Monday. The company’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $5.39. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. The firm has a market cap of $28.49 billion, a PE ratio of 21.84, a P/E/G ratio of 2.21 and a beta of 0.87. Wipro Limited has a 12 month low of $4.32 and a 12 month high of $6.45.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, January 12th. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.76 billion. Wipro had a return on equity of 15.68% and a net margin of 12.42%. Equities research analysts expect that Wipro Limited will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on WIT. Wedbush lifted their price target on shares of Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research note on Tuesday, January 16th. TheStreet raised shares of Wipro from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. BNP Paribas began coverage on shares of Wipro in a research note on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price target on the stock. Finally, StockNews.com lowered shares of Wipro from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $5.05.

Wipro Company 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.