Quadrant Capital Group LLC Increases Holdings in Wipro Limited $WIT

Quadrant Capital Group LLC increased its stake in shares of Wipro Limited (NYSE:WIT) by 46.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,136,767 shares of the information technology services provider’s stock after buying an additional 682,194 shares during the quarter. Quadrant Capital Group LLC’s holdings in Wipro were worth $6,068,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Wipro by 3.4% during the second quarter. State Street Corp now owns 22,803,389 shares of the information technology services provider’s stock worth $68,866,000 after buying an additional 746,088 shares in the last quarter. Millennium Management LLC lifted its position in Wipro by 25.9% during the third quarter. Millennium Management LLC now owns 21,305,291 shares of the information technology services provider’s stock worth $56,033,000 after buying an additional 4,382,854 shares in the last quarter. First Trust Advisors LP lifted its position in Wipro by 8.6% during the third quarter. First Trust Advisors LP now owns 16,654,556 shares of the information technology services provider’s stock worth $43,801,000 after buying an additional 1,317,586 shares in the last quarter. UBS Group AG lifted its position in Wipro by 4.7% during the fourth quarter. UBS Group AG now owns 13,654,405 shares of the information technology services provider’s stock worth $38,779,000 after buying an additional 609,565 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Wipro by 9.2% during the fourth quarter. BNP Paribas Financial Markets now owns 11,013,407 shares of the information technology services provider’s stock worth $31,278,000 after buying an additional 925,706 shares in the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Up 2.6%

NYSE:WIT opened at $2.21 on Friday. Wipro Limited has a 52 week low of $1.80 and a 52 week high of $3.13. The company has a market capitalization of $23.10 billion, a P/E ratio of 15.75, a P/E/G ratio of 4.71 and a beta of 0.97. The stock’s fifty day moving average is $2.10 and its two-hundred day moving average is $2.40.

Wipro (NYSE:WIT) last posted its earnings results on Thursday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 14.97% and a net margin of 14.25%.The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.65 billion. Sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Wipro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

About Wipro

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.