Wipro Limited (NYSE:WIT) Shares Purchased by V Square Quantitative Management LLC

V Square Quantitative Management LLC increased its stake in shares of Wipro Limited (NYSE:WIT) by 8.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 69,009 shares of the information technology services provider’s stock after acquiring an additional 5,564 shares during the period. V Square Quantitative Management LLC’s holdings in Wipro were worth $425,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC purchased a new stake in Wipro during the 4th quarter worth approximately $72,000. Cerity Partners LLC increased its holdings in Wipro by 18.9% during the 4th quarter. Cerity Partners LLC now owns 196,639 shares of the information technology services provider’s stock worth $1,095,000 after purchasing an additional 31,242 shares during the last quarter. Waldron Private Wealth LLC increased its holdings in Wipro by 27.7% during the 4th quarter. Waldron Private Wealth LLC now owns 37,825 shares of the information technology services provider’s stock worth $210,000 after purchasing an additional 8,215 shares during the last quarter. DGS Capital Management LLC increased its holdings in Wipro by 14.8% during the 4th quarter. DGS Capital Management LLC now owns 140,491 shares of the information technology services provider’s stock worth $783,000 after purchasing an additional 18,160 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Wipro by 83.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 211,876 shares of the information technology services provider’s stock worth $1,180,000 after purchasing an additional 96,260 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Stock Performance

WIT traded up $0.06 during trading on Thursday, reaching $5.91. 36,009 shares of the company were exchanged, compared to its average volume of 2,726,975. The stock has a market cap of $30.85 billion, a P/E ratio of 23.40, a PEG ratio of 4.00 and a beta of 0.90. The firm has a 50 day moving average of $6.03 and a 200 day moving average of $5.82. 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 52 week low of $4.48 and a 52 week high of $7.01.

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

Wall Street Analyst Weigh In

WIT has been the topic of several analyst reports. Nomura initiated coverage on Wipro in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Nomura Securities upgraded Wipro to a “strong-buy” rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.30.

About Wipro

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.