Arrowstreet Capital Limited Partnership Has $7.14 Million Position in Wipro Limited $WIT

Arrowstreet Capital Limited Partnership cut its stake in shares of Wipro Limited (NYSE:WIT) by 21.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,364,490 shares of the information technology services provider’s stock after selling 631,201 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Wipro were worth $7,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vest Financial LLC bought a new position in shares of Wipro during the 2nd quarter worth about $31,000. Hamilton Capital LLC acquired a new position in Wipro during the 1st quarter worth approximately $32,000. Haven Private LLC acquired a new position in Wipro during the 2nd quarter worth approximately $39,000. Rehmann Capital Advisory Group bought a new position in Wipro in the second quarter worth approximately $40,000. Finally, Focus Partners Advisor Solutions LLC grew its stake in Wipro by 62.4% in the first quarter. Focus Partners Advisor Solutions LLC now owns 16,253 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 6,245 shares during the period. 2.36% of the stock is owned by institutional investors.

Wipro Trading Up 0.9%

NYSE WIT opened at $2.89 on Thursday. The business has a fifty day simple moving average of $2.69 and a 200 day simple moving average of $2.80. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The firm has a market capitalization of $30.21 billion, a P/E ratio of 19.23, a PEG ratio of 17.31 and a beta of 1.05.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WIT. Weiss Ratings reiterated 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. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Wipro currently 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.