718,538 Shares in Wipro Limited $WIT Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans bought a new stake in shares of Wipro Limited (NYSE:WIT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 718,538 shares of the information technology services provider’s stock, valued at approximately $1,890,000.

Several other institutional investors also recently bought and sold shares of WIT. Walkner Condon Financial Advisors LLC purchased a new stake in Wipro in the 3rd quarter worth $27,000. Vest Financial LLC purchased a new position in shares of Wipro in the second quarter worth about $31,000. Curi Capital LLC acquired a new position in Wipro during the second quarter worth about $31,000. Clarendon Private LLC purchased a new stake in Wipro during the 3rd quarter valued at about $32,000. Finally, Atlas Legacy Advisors LLC purchased a new stake in Wipro during the 3rd quarter valued at about $37,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Stock Performance

WIT stock opened at $2.39 on Thursday. Wipro Limited has a one year low of $2.37 and a one year high of $3.69. The firm has a market cap of $24.98 billion, a PE ratio of 17.04, a PEG ratio of 9.98 and a beta of 1.05. The firm’s 50 day moving average price is $2.77 and its 200-day moving average price is $2.73.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley cut Wipro to an “underweight” rating in a report on Monday, January 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wipro in a research report on Thursday, October 30th. Finally, CLSA cut Wipro from an “outperform” rating to a “hold” rating in a report on Monday, October 20th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Wipro Company 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.