Rhumbline Advisers Sells 832,501 Shares of Wipro Limited (NYSE:WIT)

Rhumbline Advisers lessened its stake in shares of Wipro Limited (NYSE:WIT) by 23.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,668,724 shares of the information technology services provider’s stock after selling 832,501 shares during the quarter. Rhumbline Advisers’ holdings in Wipro were worth $8,166,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in WIT. Yousif Capital Management LLC boosted its stake in shares of Wipro by 100.0% during the 4th quarter. Yousif Capital Management LLC now owns 159,478 shares of the information technology services provider’s stock worth $565,000 after acquiring an additional 79,739 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Wipro by 93.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider’s stock worth $307,000 after acquiring an additional 41,766 shares in the last quarter. Choreo LLC boosted its stake in Wipro by 94.6% during the 4th quarter. Choreo LLC now owns 25,212 shares of the information technology services provider’s stock valued at $89,000 after purchasing an additional 12,259 shares during the period. Bleakley Financial Group LLC boosted its stake in Wipro by 102.0% during the 4th quarter. Bleakley Financial Group LLC now owns 32,974 shares of the information technology services provider’s stock valued at $117,000 after purchasing an additional 16,651 shares during the period. Finally, Angeles Wealth Management LLC boosted its stake in Wipro by 81.6% during the 4th quarter. Angeles Wealth Management LLC now owns 21,798 shares of the information technology services provider’s stock valued at $77,000 after purchasing an additional 9,796 shares during the period. Institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

Shares of WIT stock opened at $2.97 on Wednesday. The stock has a 50 day moving average of $2.86 and a two-hundred day moving average of $3.55. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a 12 month low of $2.63 and a 12 month high of $3.79. The company has a market capitalization of $31.11 billion, a P/E ratio of 20.51, a P/E/G ratio of 3.08 and a beta of 1.02.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion. As a group, equities analysts expect that Wipro Limited will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WIT shares. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. Wall Street Zen upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.