LMR Partners LLP Sells 107,851 Shares of Wipro Limited (NYSE:WIT)

LMR Partners LLP reduced its position in shares of Wipro Limited (NYSE:WIT) by 10.7% during the third quarter, Holdings Channel reports. The firm owned 897,852 shares of the information technology services provider’s stock after selling 107,851 shares during the period. LMR Partners LLP’s holdings in Wipro were worth $5,818,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Millennium Management LLC raised its position in Wipro by 67.6% in the second quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider’s stock worth $34,298,000 after acquiring an additional 2,267,995 shares during the period. Marshall Wace LLP bought a new stake in Wipro in the second quarter worth about $7,994,000. Jane Street Group LLC raised its position in Wipro by 292.0% in the first quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after acquiring an additional 1,001,644 shares during the period. Lazard Asset Management LLC raised its position in Wipro by 154.1% in the first quarter. Lazard Asset Management LLC now owns 855,496 shares of the information technology services provider’s stock worth $4,919,000 after acquiring an additional 518,866 shares during the period. Finally, Squarepoint Ops LLC raised its position in Wipro by 143.4% in the second quarter. Squarepoint Ops LLC now owns 821,228 shares of the information technology services provider’s stock worth $5,009,000 after acquiring an additional 483,893 shares during the period. 2.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WIT has been the topic of several research reports. Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com lowered shares of Wipro from a “buy” rating to a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.60.

Wipro Stock Performance

NYSE WIT opened at $6.70 on Tuesday. The company’s 50 day moving average is $6.55 and its 200-day moving average is $6.13. Wipro Limited has a 12-month low of $4.67 and a 12-month high of $7.04. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The firm has a market cap of $34.98 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 4.54 and a beta of 0.89.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Wipro had a net margin of 13.23% and a return on equity of 14.98%. Sell-side analysts predict that Wipro Limited will post 0.27 earnings per share for the current year.

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.