Wipro Limited (NYSE:WIT) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC decreased its position in shares of Wipro Limited (NYSE:WIT) by 9.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,928 shares of the information technology services provider’s stock after selling 6,076 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Wipro were worth $359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jump Financial LLC lifted its holdings in Wipro by 89.0% in the fourth quarter. Jump Financial LLC now owns 148,988 shares of the information technology services provider’s stock valued at $830,000 after acquiring an additional 70,176 shares during the period. Team Hewins LLC acquired a new position in Wipro in the fourth quarter valued at approximately $168,000. Sepio Capital LP acquired a new position in Wipro in the fourth quarter valued at approximately $124,000. Capstone Investment Advisors LLC acquired a new position in Wipro in the fourth quarter valued at approximately $585,000. Finally, V Square Quantitative Management LLC acquired a new position in Wipro in the fourth quarter valued at approximately $353,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Trading Up 3.1 %

Shares of WIT stock opened at $6.56 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.70 and a quick ratio of 2.70. The company has a market cap of $34.24 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 4.34 and a beta of 0.90. The stock has a 50 day simple moving average of $6.20 and a 200-day simple moving average of $5.86. Wipro Limited has a 1-year low of $4.48 and a 1-year high of $7.01.

Wipro (NYSE:WIT) last announced its earnings results on Friday, July 19th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. Wipro had a return on equity of 15.01% and a net margin of 12.57%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the company posted $0.06 EPS. On average, equities research analysts expect that Wipro Limited will post 0.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on WIT. Nomura Securities raised Wipro to a “strong-buy” rating in a report on Tuesday, July 2nd. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Nomura assumed coverage on Wipro in a research note on Tuesday, July 2nd. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.60.

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.