Jane Street Group LLC Lowers Stock Position in Wipro Limited (NYSE:WIT)

Jane Street Group LLC cut its stake in shares of Wipro Limited (NYSE:WIT) by 83.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 78,780 shares of the information technology services provider’s stock after selling 401,274 shares during the period. Jane Street Group LLC’s holdings in Wipro were worth $279,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bell Investment Advisors Inc grew its stake in shares of Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 3,631 shares during the period. Sierra Ocean LLC purchased a new stake in Wipro during the 4th quarter worth $29,000. Farther Finance Advisors LLC boosted its position in Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 4,851 shares during the period. Freestone Capital Holdings LLC purchased a new stake in Wipro during the 4th quarter worth $36,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Wipro during the 4th quarter worth $37,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group cut shares of Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. Wall Street Zen raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Wipro Stock Performance

Shares of WIT stock opened at $2.84 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro Limited has a one year low of $2.58 and a one year high of $3.79. The company’s 50-day simple moving average is $2.88 and its 200-day simple moving average is $3.68. The stock has a market capitalization of $29.65 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 3.08 and a beta of 1.03.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro 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.