Prime Capital Investment Advisors LLC Has $81,000 Stock Holdings in Wipro Limited $WIT

Prime Capital Investment Advisors LLC trimmed its holdings in Wipro Limited (NYSE:WIT) by 19.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,850 shares of the information technology services provider’s stock after selling 6,675 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Wipro were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in shares of Wipro by 44.4% in the 1st quarter. Acadian Asset Management LLC now owns 20,977,514 shares of the information technology services provider’s stock valued at $64,171,000 after purchasing an additional 6,447,184 shares during the period. Goldman Sachs Group Inc. raised its stake in Wipro by 22.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider’s stock worth $31,683,000 after buying an additional 1,864,943 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Wipro by 45.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,227,213 shares of the information technology services provider’s stock worth $22,115,000 after buying an additional 2,257,828 shares during the period. Millennium Management LLC raised its stake in Wipro by 70.4% during the 1st quarter. Millennium Management LLC now owns 7,114,173 shares of the information technology services provider’s stock worth $21,769,000 after buying an additional 2,939,007 shares during the period. Finally, Northern Trust Corp raised its stake in Wipro by 115.3% during the 1st quarter. Northern Trust Corp now owns 5,766,763 shares of the information technology services provider’s stock worth $17,646,000 after buying an additional 3,087,697 shares during the period. 2.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on WIT shares. Morgan Stanley raised Wipro from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wipro in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Wipro Stock Down 1.5%

Shares of Wipro stock opened at $2.68 on Monday. The company has a market cap of $28.06 billion, a PE ratio of 17.29 and a beta of 1.00. Wipro Limited has a 52 week low of $2.58 and a 52 week high of $3.79. The business has a 50 day moving average price of $2.73 and a 200-day moving average price of $2.85.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Thursday, July 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $219.23 billion. Wipro had a return on equity of 15.94% and a net margin of 15.07%. As a group, research analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Wipro Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 28th were issued a $0.057 dividend. The ex-dividend date of this dividend was Monday, July 28th. This represents a dividend yield of 409.9%. Wipro’s dividend payout ratio is currently 62.50%.

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.