Penserra Capital Management LLC Sells 8,815 Shares of Wipro Limited (NYSE:WIT)

Penserra Capital Management LLC lessened its stake in shares of Wipro Limited (NYSE:WIT) by 1.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 749,102 shares of the information technology services provider’s stock after selling 8,815 shares during the quarter. Penserra Capital Management LLC’s holdings in Wipro were worth $4,854,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Wipro by 37.8% during the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock valued at $57,000 after acquiring an additional 2,426 shares in the last quarter. Mayflower Financial Advisors LLC bought a new position in Wipro in the second quarter valued at about $64,000. Abacus Wealth Partners LLC acquired a new stake in shares of Wipro during the third quarter valued at about $71,000. Werba Rubin Papier Wealth Management bought a new stake in shares of Wipro during the third quarter worth about $71,000. Finally, Catalytic Wealth RIA LLC acquired a new position in shares of Wipro in the third quarter valued at approximately $81,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on WIT. Investec downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.60.

Wipro Stock Performance

NYSE:WIT opened at $6.98 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. Wipro Limited has a fifty-two week low of $4.67 and a fifty-two week high of $7.04. The company has a 50 day simple moving average of $6.59 and a two-hundred day simple moving average of $6.17. The company has a market capitalization of $36.47 billion, a PE ratio of 25.85, a P/E/G ratio of 4.72 and a beta of 0.89.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Wipro had a net margin of 13.23% and a return on equity of 14.98%. Research analysts anticipate that Wipro Limited will post 0.27 earnings per share for the current year.

Wipro Profile

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.