Enterprise Financial Services Corp Decreases Stake in Wipro Limited (NYSE:WIT)

Enterprise Financial Services Corp reduced its position in Wipro Limited (NYSE:WIT) by 34.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,634 shares of the information technology services provider’s stock after selling 6,186 shares during the period. Enterprise Financial Services Corp’s holdings in Wipro were worth $65,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KLR Investment Advisors LLC bought a new position in shares of Wipro during the fourth quarter worth about $332,000. Jump Financial LLC lifted its position in shares of Wipro by 89.0% during the fourth quarter. Jump Financial LLC now owns 148,988 shares of the information technology services provider’s stock worth $830,000 after purchasing an additional 70,176 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Wipro by 112.7% during the fourth quarter. BNP Paribas Financial Markets now owns 3,722,483 shares of the information technology services provider’s stock worth $20,734,000 after purchasing an additional 1,972,425 shares during the last quarter. Leuthold Group LLC lifted its holdings in Wipro by 57.1% in the fourth quarter. Leuthold Group LLC now owns 101,853 shares of the information technology services provider’s stock worth $567,000 after acquiring an additional 37,035 shares during the last quarter. Finally, Intelligence Driven Advisers LLC bought a new position in Wipro in the fourth quarter worth about $61,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Performance

Shares of NYSE:WIT traded up $0.07 during trading hours on Thursday, hitting $5.48. The stock had a trading volume of 997,265 shares, compared to its average volume of 2,818,359. The stock’s fifty day simple moving average is $5.55 and its 200 day simple moving average is $5.52. Wipro Limited has a 1-year low of $4.48 and a 1-year high of $6.45. The firm has a market capitalization of $28.60 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 3.72 and a beta of 0.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.28 and a current ratio of 2.29.

Wipro (NYSE:WIT) last announced its quarterly earnings results on Friday, April 19th. The information technology services provider reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. Wipro had a net margin of 12.29% and a return on equity of 16.05%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. Sell-side analysts anticipate that Wipro Limited will post 0.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $5.05.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.