Wipro Limited (NYSE:WIT) Short Interest Update

Wipro Limited (NYSE:WIT) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 118,220,000 shares, an increase of 31.3% from the July 31st total of 90,050,000 shares. Based on an average daily trading volume, of 6,640,000 shares, the short-interest ratio is currently 17.8 days. Based on an average daily trading volume, of 6,640,000 shares, the short-interest ratio is currently 17.8 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in shares of Wipro by 44.4% in the 1st quarter. Acadian Asset Management LLC now owns 20,977,514 shares of the information technology services provider’s stock worth $64,171,000 after acquiring an additional 6,447,184 shares in the last quarter. Bank of America Corp DE grew its position in shares of Wipro by 298.9% in the 2nd quarter. Bank of America Corp DE now owns 7,690,677 shares of the information technology services provider’s stock worth $23,226,000 after acquiring an additional 5,762,771 shares in the last quarter. Northern Trust Corp grew its position in shares of Wipro by 115.3% in the 1st quarter. Northern Trust Corp now owns 5,766,763 shares of the information technology services provider’s stock worth $17,646,000 after acquiring an additional 3,087,697 shares in the last quarter. Millennium Management LLC grew its position in shares of Wipro by 70.4% in the 1st quarter. Millennium Management LLC now owns 7,114,173 shares of the information technology services provider’s stock worth $21,769,000 after acquiring an additional 2,939,007 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Wipro by 45.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,227,213 shares of the information technology services provider’s stock worth $22,115,000 after acquiring an additional 2,257,828 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Wipro Stock Performance

Shares of NYSE:WIT opened at $2.82 on Thursday. The company has a market cap of $29.47 billion, a P/E ratio of 18.16, a PEG ratio of 10.09 and a beta of 0.96. Wipro has a one year low of $2.62 and a one year high of $3.79. The business’s 50-day simple moving average is $2.83 and its 200 day simple moving average is $2.93.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Thursday, July 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $219.23 billion. Wipro had a return on equity of 15.94% and a net margin of 15.07%. Analysts predict that Wipro will post 0.14 earnings per share for the current year.

Wipro Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 28th were issued a $0.057 dividend. The ex-dividend date of this dividend was Monday, July 28th. This represents a yield of 409.9%. Wipro’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded Wipro from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 20th. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

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.