West Family Investments Inc. Has $1.61 Million Stock Position in Wipro Limited $WIT

West Family Investments Inc. boosted its holdings in shares of Wipro Limited (NYSE:WIT) by 37.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 533,167 shares of the information technology services provider’s stock after purchasing an additional 144,972 shares during the period. West Family Investments Inc.’s holdings in Wipro were worth $1,610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in Wipro by 4.1% in the second quarter. Acadian Asset Management LLC now owns 21,841,995 shares of the information technology services provider’s stock valued at $65,948,000 after buying an additional 864,481 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Wipro by 22.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider’s stock valued at $31,683,000 after purchasing an additional 1,864,943 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Wipro by 45.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,227,213 shares of the information technology services provider’s stock valued at $22,115,000 after purchasing an additional 2,257,828 shares in the last quarter. Millennium Management LLC grew its holdings in shares of 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 valued at $21,769,000 after purchasing an additional 2,939,007 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Wipro by 42.7% during the 2nd quarter. Penserra Capital Management LLC now owns 6,446,407 shares of the information technology services provider’s stock worth $19,468,000 after purchasing an additional 1,929,377 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WIT shares. CLSA cut shares of Wipro from an “outperform” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Wipro in a report on Thursday, October 30th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Wipro presently has an average rating of “Reduce”.

Wipro Stock Performance

WIT stock opened at $2.73 on Friday. The company has a market capitalization of $28.54 billion, a P/E ratio of 18.17, a PEG ratio of 16.16 and a beta of 1.02. The company has a fifty day moving average price of $2.67 and a 200-day moving average price of $2.80. Wipro Limited has a 52-week low of $2.55 and a 52-week high of $3.79.

About Wipro

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.