Acadian Asset Management LLC Has $65.95 Million Stock Position in Wipro Limited $WIT

Acadian Asset Management LLC increased its position in shares of Wipro Limited (NYSE:WIT) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,841,995 shares of the information technology services provider’s stock after buying an additional 864,481 shares during the period. Acadian Asset Management LLC owned 0.21% of Wipro worth $65,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in Wipro by 22.0% during the first quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider’s stock worth $31,683,000 after acquiring an additional 1,864,943 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Wipro by 45.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,227,213 shares of the information technology services provider’s stock valued at $22,115,000 after acquiring an additional 2,257,828 shares during the last quarter. Millennium Management LLC raised 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. Penserra Capital Management LLC grew its holdings in Wipro by 42.7% in the second quarter. Penserra Capital Management LLC now owns 6,446,407 shares of the information technology services provider’s stock worth $19,468,000 after purchasing an additional 1,929,377 shares during the period. Finally, Northern Trust Corp raised its position in shares of Wipro by 115.3% during the first 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. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Stock Performance

NYSE WIT opened at $2.59 on Monday. The company has a fifty day moving average of $2.70 and a 200-day moving average of $2.83. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79. The company has a market capitalization of $27.07 billion, a P/E ratio of 17.23, a P/E/G ratio of 16.16 and a beta of 1.02.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Thursday, October 16th. The information technology services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $224.40 billion. Wipro had a net margin of 15.06% and a return on equity of 15.80%. As a group, analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WIT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wipro in a report on Thursday, October 30th. CLSA downgraded shares of Wipro from an “outperform” rating to a “hold” rating in a report on Monday, October 20th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

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.