Schroder Investment Management Group Sells 636,002 Shares of Wipro Limited $WIT

by · The Markets Daily

Schroder Investment Management Group trimmed its holdings in shares of Wipro Limited (NYSE:WIT – Free Report) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,932,834 shares of the information technology services provider’s stock after selling 636,002 shares during the period. Schroder Investment Management Group’s holdings in Wipro were worth $23,957,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vest Financial LLC bought a new stake in Wipro during the second quarter worth about $31,000. Hamilton Capital LLC acquired a new position in shares of Wipro during the 1st quarter worth approximately $32,000. Haven Private LLC bought a new stake in shares of Wipro during the 2nd quarter worth approximately $39,000. Rehmann Capital Advisory Group acquired a new stake in shares of Wipro in the 2nd quarter valued at approximately $40,000. Finally, Focus Partners Advisor Solutions LLC boosted its holdings in shares of Wipro by 62.4% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 16,253 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 6,245 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Price Performance

Shares of Wipro stock opened at $2.73 on Wednesday. The business has a fifty day simple moving average of $2.67 and a two-hundred day simple moving average of $2.80. Wipro Limited has a 1 year low of $2.55 and a 1 year high of $3.79. The company has a market capitalization of $28.54 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 16.16 and a beta of 1.05.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WIT shares. CLSA lowered shares of 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 report on Thursday, October 30th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

View Our Latest Stock Analysis on Wipro

About Wipro

(Free Report)

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.

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