Greenleaf Trust Sells 66,562 Shares of Wipro Limited (NYSE:WIT)

Greenleaf Trust cut its holdings in shares of Wipro Limited (NYSE:WIT) by 65.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,783 shares of the information technology services provider’s stock after selling 66,562 shares during the quarter. Greenleaf Trust’s holdings in Wipro were worth $199,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. AlphaQ Advisors LLC purchased a new position in shares of Wipro during the third quarter worth approximately $48,000. Marks Group Wealth Management Inc bought a new position in shares of Wipro in the third quarter worth approximately $49,000. Keel Point LLC bought a new position in shares of Wipro in the third quarter worth approximately $54,000. Dorsey & Whitney Trust CO LLC bought a new position in shares of Wipro in the third quarter worth approximately $56,000. Finally, Xponance Inc. bought a new position in shares of Wipro in the third quarter worth approximately $63,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WIT has been the topic of several recent analyst reports. Wedbush raised their target price on shares of Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a report on Tuesday, January 16th. TheStreet upgraded shares of Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. BNP Paribas assumed coverage on shares of Wipro in a report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price target on the stock. Finally, StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a report on Wednesday. Four investment 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 presently has an average rating of “Reduce” and a consensus price target of $5.05.

Wipro Stock Performance

Shares of WIT stock opened at $5.44 on Friday. Wipro Limited has a 12 month low of $4.48 and a 12 month high of $6.45. The stock has a market cap of $28.38 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.19 and a beta of 0.87. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. The company’s fifty day moving average price is $5.86 and its 200-day moving average price is $5.41.

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.