Wipro Limited $WIT Shares Acquired by R Squared Ltd

R Squared Ltd raised its stake in shares of Wipro Limited (NYSE:WIT) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,810 shares of the information technology services provider’s stock after purchasing an additional 3,830 shares during the period. R Squared Ltd’s holdings in Wipro were worth $84,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Acadian Asset Management LLC increased its position in Wipro by 44.4% during the first quarter. Acadian Asset Management LLC now owns 20,977,514 shares of the information technology services provider’s stock worth $64,171,000 after purchasing an additional 6,447,184 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Wipro by 22.0% during the first quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider’s stock worth $31,683,000 after purchasing an additional 1,864,943 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Wipro by 45.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,227,213 shares of the information technology services provider’s stock worth $22,115,000 after purchasing an additional 2,257,828 shares during the last quarter. Millennium Management LLC increased its position in Wipro by 70.4% during the first quarter. Millennium Management LLC now owns 7,114,173 shares of the information technology services provider’s stock worth $21,769,000 after purchasing an additional 2,939,007 shares during the last quarter. Finally, Northern Trust Corp increased its position in Wipro by 115.3% during the first quarter. Northern Trust Corp now owns 5,766,763 shares of the information technology services provider’s stock worth $17,646,000 after purchasing an additional 3,087,697 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analysts Set New Price Targets

WIT has been the subject of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wipro in a research note on Wednesday, October 8th. CLSA downgraded shares of Wipro from an “outperform” rating to a “hold” rating in a research note on Monday, October 20th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Wipro Trading Down 0.9%

Shares of WIT stock opened at $2.69 on Monday. The company has a market capitalization of $28.11 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 16.28 and a beta of 1.00. The firm has a fifty day simple moving average of $2.73 and a 200-day simple moving average of $2.84. Wipro Limited has a twelve month low of $2.58 and a twelve month high of $3.79.

Wipro (NYSE:WIT) last announced its earnings results on Thursday, October 16th. The information technology services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $224.40 billion. Wipro had a net margin of 15.06% and a return on equity of 15.80%. Equities research analysts predict that Wipro Limited will post 0.14 EPS for the current year.

Wipro Company 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.