Penserra Capital Management LLC Grows Stock Position in Wipro Limited $WIT

Penserra Capital Management LLC boosted its position in shares of Wipro Limited (NYSE:WIT) by 43.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,242,466 shares of the information technology services provider’s stock after buying an additional 2,796,059 shares during the quarter. Penserra Capital Management LLC owned 0.09% of Wipro worth $24,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Wipro by 3.4% during the 2nd quarter. State Street Corp now owns 22,803,389 shares of the information technology services provider’s stock worth $68,866,000 after purchasing an additional 746,088 shares during the period. Acadian Asset Management LLC raised its position in Wipro by 4.1% in the 2nd quarter. Acadian Asset Management LLC now owns 21,841,995 shares of the information technology services provider’s stock worth $65,948,000 after purchasing an additional 864,481 shares during the period. Goldman Sachs Group Inc. lifted its stake in Wipro by 22.0% in 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 purchasing an additional 1,864,943 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Wipro by 17.3% during the second quarter. BNP Paribas Financial Markets now owns 9,965,693 shares of the information technology services provider’s stock valued at $30,096,000 after buying an additional 1,466,462 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Wipro by 298.9% during the second quarter. Bank of America Corp DE now owns 7,690,677 shares of the information technology services provider’s stock valued at $23,226,000 after buying an additional 5,762,771 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Performance

NYSE:WIT opened at $2.56 on Wednesday. The firm has a 50-day simple moving average of $2.80 and a 200-day simple moving average of $2.75. Wipro Limited has a one year low of $2.50 and a one year high of $3.74. The firm has a market cap of $26.76 billion, a P/E ratio of 18.25, a P/E/G ratio of 10.73 and a beta of 1.05.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Wednesday, January 21st. 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 $2.62 billion for the quarter, compared to analyst estimates of $2.63 billion. Wipro had a net margin of 14.61% and a return on equity of 15.35%. On average, research analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WIT shares. Weiss Ratings restated a “hold (c)” rating on shares of Wipro in a report on Thursday, October 30th. Morgan Stanley downgraded Wipro to an “underweight” rating in a research report on Monday, January 19th. Finally, CLSA cut shares of Wipro from an “outperform” rating to a “hold” rating in a report on Monday, October 20th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Wipro 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.