SG Americas Securities LLC Purchases New Shares in Wipro Limited $WIT

SG Americas Securities LLC acquired a new position in shares of Wipro Limited (NYSE:WIT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 208,334 shares of the information technology services provider’s stock, valued at approximately $548,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vest Financial LLC purchased a new position in Wipro during the second quarter worth about $31,000. Curi Capital LLC purchased a new position in shares of Wipro in the 2nd quarter worth approximately $31,000. Haven Private LLC purchased a new position in shares of Wipro in the 2nd quarter worth approximately $39,000. CW Advisors LLC purchased a new stake in shares of Wipro during the second quarter valued at approximately $39,000. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Wipro during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Down 1.3%

Wipro stock opened at $2.58 on Friday. The stock has a market cap of $26.97 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 10.42 and a beta of 1.03. The business has a 50-day simple moving average of $2.81 and a 200 day simple moving average of $2.77. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Wednesday, January 21st. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.63 billion. Wipro had a return on equity of 15.35% and a net margin of 14.61%. On average, research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WIT has been the topic of several research reports. Morgan Stanley lowered shares of Wipro to an “underweight” rating in a research report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Wipro in a report on Thursday, October 30th. Finally, CLSA downgraded shares of Wipro from an “outperform” rating to a “hold” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Wipro Profile

Wipro Limited (NYSE: WIT) is an Indian multinational corporation that provides information technology, consulting and business process services. Headquartered in Bengaluru, India, the company traces its origins to 1945 when it was founded as Western India Vegetable Products and later diversified into technology and IT services. Today Wipro positions itself as a provider of enterprise IT solutions and digital transformation services for large and mid-sized organizations across multiple industries.

The company’s service portfolio includes application development and maintenance, cloud and infrastructure services, data analytics and AI, cybersecurity, digital consulting, product engineering and research and development, as well as business process services.