Penserra Capital Management LLC Acquires 1,929,377 Shares of Wipro Limited $WIT

Penserra Capital Management LLC increased its holdings in shares of Wipro Limited (NYSE:WIT) by 42.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,446,407 shares of the information technology services provider’s stock after acquiring an additional 1,929,377 shares during the quarter. Penserra Capital Management LLC’s holdings in Wipro were worth $19,468,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of WIT. Vest Financial LLC acquired a new position in shares of Wipro during the 2nd quarter worth approximately $31,000. Hamilton Capital LLC bought a new stake in shares of Wipro in the first quarter valued at approximately $32,000. Haven Private LLC bought a new stake in shares of Wipro in the second quarter valued at approximately $39,000. Rehmann Capital Advisory Group acquired a new stake in Wipro during the second quarter worth approximately $40,000. Finally, Hoxton Planning & Management LLC bought a new position in Wipro during the 1st quarter worth $48,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analysts Set New Price Targets

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

Wipro Stock Performance

Shares of WIT stock opened at $2.59 on Friday. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The stock’s fifty day moving average price is $2.70 and its two-hundred day moving average price is $2.82. The company has a market cap of $27.07 billion, a PE ratio of 17.23, a P/E/G ratio of 16.16 and a beta of 1.02.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Thursday, October 16th. The information technology services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $224.40 billion. Wipro had a return on equity of 15.80% and a net margin of 15.06%. On average, equities analysts predict that Wipro Limited will post 0.14 EPS for the current fiscal year.

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.