Wipro Limited (NYSE:WIT) Shares Acquired by Promethos Capital LLC

Promethos Capital LLC raised its position in Wipro Limited (NYSE:WIT) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,396,969 shares of the information technology services provider’s stock after acquiring an additional 3,200 shares during the period. Wipro comprises approximately 3.1% of Promethos Capital LLC’s holdings, making the stock its 8th largest holding. Promethos Capital LLC’s holdings in Wipro were worth $8,435,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its stake in Wipro by 10.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 528,618 shares of the information technology services provider’s stock worth $3,216,000 after buying an additional 49,646 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Wipro during the 2nd quarter valued at about $737,000. Dimensional Fund Advisors LP increased its stake in Wipro by 38.3% in the second quarter. Dimensional Fund Advisors LP now owns 774,867 shares of the information technology services provider’s stock valued at $4,727,000 after acquiring an additional 214,712 shares during the period. SYM FINANCIAL Corp acquired a new position in Wipro during the second quarter worth $96,000. Finally, American Century Companies Inc. increased its position in shares of Wipro by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 738,680 shares of the information technology services provider’s stock worth $4,506,000 after purchasing an additional 38,100 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Nomura Securities upgraded shares of Wipro to a “strong-buy” rating in a research report on Tuesday, July 2nd. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Nomura initiated coverage on Wipro in a research report on Tuesday, July 2nd. They issued a “buy” rating on the stock. Two investment 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 company’s stock. According to MarketBeat, Wipro presently has an average rating of “Hold” and a consensus price target of $5.60.

Wipro Stock Up 1.6 %

Shares of WIT stock opened at $6.47 on Friday. The company has a market capitalization of $33.80 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 4.49 and a beta of 0.90. Wipro Limited has a 12-month low of $4.48 and a 12-month high of $7.01. The firm has a fifty day moving average of $6.21 and a 200-day moving average of $5.87. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.08.

Wipro (NYSE:WIT) last released its 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. The firm 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 quarter in the prior year, the company earned $0.06 EPS. As a group, equities research analysts predict that Wipro Limited will post 0.27 earnings per share for the current fiscal year.

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.