Angeles Investment Advisors LLC Reduces Holdings in Wipro Limited (NYSE:WIT)

Angeles Investment Advisors LLC trimmed its position in shares of Wipro Limited (NYSE:WIT) by 9.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor 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 filing with the SEC.

Several other large investors have also recently made changes to their positions in WIT. GAMMA Investing LLC grew its holdings in Wipro by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock valued at $33,000 after buying an additional 1,858 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Wipro in the 1st quarter valued at $60,000. Mayflower Financial Advisors LLC purchased a new stake in Wipro in the 2nd quarter valued at $64,000. Atomi Financial Group Inc. grew its holdings in Wipro by 29.4% in the 1st quarter. Atomi Financial Group Inc. now owns 13,305 shares of the information technology services provider’s stock valued at $77,000 after buying an additional 3,023 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new stake in Wipro in the 1st quarter valued at $79,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Stock Performance

NYSE WIT opened at $6.56 on Monday. The stock has a market cap of $34.24 billion, a PE ratio of 26.24, a P/E/G ratio of 4.34 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.08. Wipro Limited has a twelve month low of $4.48 and a twelve month high of $7.01. The stock has a fifty day simple moving average of $6.20 and a 200-day simple moving average of $5.86.

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

Analyst Upgrades and Downgrades

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

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.