Integrated Quantitative Investments LLC Lowers Position in Wipro Limited $WIT

Integrated Quantitative Investments LLC trimmed its holdings in shares of Wipro Limited (NYSE:WIT) by 30.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522,983 shares of the information technology services provider’s stock after selling 232,433 shares during the period. Integrated Quantitative Investments LLC’s holdings in Wipro were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Interchange Capital Partners LLC purchased a new position in Wipro during the third quarter valued at approximately $27,000. Curi Capital LLC purchased a new stake in Wipro during the second quarter worth $31,000. Walkner Condon Financial Advisors LLC bought a new stake in Wipro during the 3rd quarter valued at $27,000. Clarendon Private LLC purchased a new position in shares of Wipro in the 3rd quarter valued at $32,000. Finally, Aspiring Ventures LLC bought a new position in shares of Wipro in the 3rd quarter worth $32,000. Institutional investors own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lowered shares of Wipro to an “underweight” rating in a research note on Monday, January 19th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Wipro presently has a consensus rating of “Reduce”.

Wipro Stock Up 0.5%

Wipro stock opened at $2.21 on Thursday. Wipro Limited has a 52 week low of $2.11 and a 52 week high of $3.33. The stock has a 50-day moving average price of $2.58 and a 200 day moving average price of $2.68. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 8.78 and a beta of 1.07.

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

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.