Emerald Acquisition Ltd. acquired a new stake in Wipro Ltd. (NYSE:WIT) during the second quarter, Holdings Channel reports. The institutional investor acquired 111,109 shares of the company’s stock, valued at approximately $1,371,000.
A number of other large investors also recently modified their holdings of the company. Mizuho Trust & Banking Co. Ltd. increased its stake in Wipro by 21.7% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 8,696 shares of the company’s stock worth $107,000 after buying an additional 1,552 shares during the last quarter. OLD Mission Capital LLC purchased a new position in shares of Wipro during the first quarter worth about $382,000. UBS Group AG boosted its position in shares of Wipro by 27.6% in the first quarter. UBS Group AG now owns 60,308 shares of the company’s stock worth $758,000 after buying an additional 13,032 shares during the period. Barclays PLC purchased a new position in shares of Wipro during the first quarter worth about $1,016,000. Finally, Legal & General Group Plc boosted its position in shares of Wipro by 2.3% in the first quarter. Legal & General Group Plc now owns 137,817 shares of the company’s stock worth $1,733,000 after buying an additional 3,100 shares during the period. Hedge funds and other institutional investors own 2.37% of the company’s stock.
Wipro Ltd. (NYSE:WIT) traded up 0.257% during mid-day trading on Thursday, hitting $9.745. 402,918 shares of the company’s stock were exchanged. The stock has a market cap of $23.94 billion, a PE ratio of 18.215 and a beta of 1.06. The stock’s 50 day moving average price is $10.10 and its 200-day moving average price is $11.55. Wipro Ltd. has a 12 month low of $9.66 and a 12 month high of $13.08.
Wipro (NYSE:WIT) last released its earnings results on Tuesday, July 19th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. Wipro had a net margin of 16.64% and a return on equity of 18.90%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.02 billion. Equities analysts expect that Wipro Ltd. will post $0.55 EPS for the current fiscal year.
A number of research analysts recently issued reports on WIT shares. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Wedbush started coverage on shares of Wipro in a research note on Thursday, September 8th. They issued an “underperform” rating and a $8.50 price objective on the stock. HSBC cut shares of Wipro from a “hold” rating to a “reduce” rating in a research note on Tuesday, August 9th. Finally, TheStreet cut shares of Wipro from a “buy” rating to a “hold” rating in a research note on Friday, September 16th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.17.
Wipro Company Profile
Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide.
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