Quantbot Technologies LP Invests $150,000 in Wipro Limited (WIT) Stock

Quantbot Technologies LP purchased a new stake in shares of Wipro Limited (NYSE:WIT) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,178 shares of the information technology services provider’s stock, valued at approximately $150,000.

A number of other large investors have also bought and sold shares of WIT. US Bancorp DE raised its holdings in Wipro by 35.8% during the fourth quarter. US Bancorp DE now owns 86,937 shares of the information technology services provider’s stock valued at $475,000 after acquiring an additional 22,935 shares during the period. First Trust Advisors LP raised its holdings in Wipro by 25.4% during the fourth quarter. First Trust Advisors LP now owns 6,361,649 shares of the information technology services provider’s stock valued at $34,798,000 after acquiring an additional 1,286,771 shares during the period. Schroder Investment Management Group raised its holdings in Wipro by 59.5% during the fourth quarter. Schroder Investment Management Group now owns 1,573,069 shares of the information technology services provider’s stock valued at $8,604,000 after acquiring an additional 586,542 shares during the period. BlackRock Inc. raised its holdings in Wipro by 8.9% during the fourth quarter. BlackRock Inc. now owns 20,108,643 shares of the information technology services provider’s stock valued at $109,994,000 after acquiring an additional 1,636,016 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Wipro by 47,330.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 45,533 shares of the information technology services provider’s stock valued at $249,000 after acquiring an additional 45,437 shares during the period. 2.40% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have commented on WIT shares. Zacks Investment Research raised Wipro from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Friday, April 13th. BNP Paribas raised Wipro from a “reduce” rating to a “hold” rating in a report on Monday, April 9th. ValuEngine upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, TheStreet lowered Wipro from a “b-” rating to a “c+” rating in a research report on Friday, May 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Wipro currently has an average rating of “Hold” and a consensus price target of $141.50.

Shares of Wipro stock opened at $4.89 on Thursday. The stock has a market cap of $21.55 billion, a PE ratio of 18.81, a PEG ratio of 2.14 and a beta of 0.71. The company has a quick ratio of 2.35, a current ratio of 2.37 and a debt-to-equity ratio of 0.09. Wipro Limited has a twelve month low of $4.50 and a twelve month high of $6.40.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Wednesday, April 25th. The information technology services provider reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Wipro had a net margin of 14.68% and a return on equity of 15.49%. analysts anticipate that Wipro Limited will post 0.28 earnings per share for the current fiscal year.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. The company's IT Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, business process services, research and development, and hardware and software design services to enterprises.

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Institutional Ownership by Quarter for Wipro (NYSE:WIT)

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