Diversified Trust Co Sells 9,090 Shares of Wipro Limited $WIT

Diversified Trust Co lessened its holdings in Wipro Limited (NYSE:WIT) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,777 shares of the information technology services provider’s stock after selling 9,090 shares during the period. Diversified Trust Co’s holdings in Wipro were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WIT. Acadian Asset Management LLC raised its position in Wipro by 44.4% in the first 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 during the period. Northern Trust Corp raised its holdings in 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 purchasing an additional 3,087,697 shares during the period. Millennium Management LLC raised its holdings in 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 purchasing an additional 2,939,007 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 purchasing an additional 2,257,828 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Wipro by 22.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider’s stock worth $31,683,000 after purchasing an additional 1,864,943 shares during the period. 2.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised Wipro from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 20th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Wipro presently has a consensus rating of “Reduce”.

Wipro Stock Down 0.9%

NYSE:WIT opened at $2.71 on Thursday. The business’s 50-day simple moving average is $2.79 and its two-hundred day simple moving average is $2.89. The stock has a market cap of $28.32 billion, a PE ratio of 17.45, a P/E/G ratio of 9.95 and a beta of 0.96. Wipro Limited has a 52 week low of $2.62 and a 52 week high of $3.79.

Wipro (NYSE:WIT) last issued its earnings results on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $2.58 billion for 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%. Sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 28th were given a dividend of $0.057 per share. The ex-dividend date was Monday, July 28th. This represents a dividend yield of 409.9%. Wipro’s dividend payout ratio (DPR) is presently 62.50%.

About Wipro

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.