Wipro Limited (NYSE:WIT) Shares Sold by Simon Quick Advisors LLC

Simon Quick Advisors LLC lessened its holdings in shares of Wipro Limited (NYSE:WIT) by 8.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 68,335 shares of the information technology services provider’s stock after selling 6,175 shares during the quarter. Simon Quick Advisors LLC’s holdings in Wipro were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WIT. Bell Investment Advisors Inc raised its holdings in shares of Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 3,631 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Wipro during the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its holdings in shares of Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 4,851 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in shares of Wipro during the fourth quarter valued at approximately $35,000. Finally, Freestone Capital Holdings LLC bought a new stake in Wipro during the fourth quarter worth approximately $36,000. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 1.2%

NYSE WIT opened at $2.99 on Monday. Wipro Limited has a twelve month low of $2.63 and a twelve month high of $3.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market cap of $31.22 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.08 and a beta of 1.02. The firm’s 50 day moving average price is $2.87 and its two-hundred day moving average price is $3.44.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $225.66 billion. Equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Jefferies Financial Group cut Wipro from a “hold” rating to an “underperform” rating in a report on Tuesday, April 8th. Wall Street Zen raised Wipro from a “hold” rating to a “buy” rating in a report on Saturday, April 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Wipro Company 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.