1,310,519 Shares in Wipro Limited (NYSE:WIT) Bought by Marshall Wace LLP

Marshall Wace LLP bought a new position in shares of Wipro Limited (NYSE:WIT - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,310,519 shares of the information technology services provider's stock, valued at approximately $7,994,000.

Several other hedge funds have also modified their holdings of WIT. Xponance Inc. boosted its holdings in Wipro by 21.7% in the second quarter. Xponance Inc. now owns 15,866 shares of the information technology services provider's stock valued at $97,000 after acquiring an additional 2,832 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Wipro by 12.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 76,268 shares of the information technology services provider's stock valued at $470,000 after purchasing an additional 8,187 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Wipro in the 2nd quarter valued at about $531,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Wipro by 10.4% during the 2nd 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 during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Wipro during the second quarter worth approximately $737,000. 2.36% of the stock is owned by institutional investors.

Wipro Trading Up 0.2 %

WIT traded up $0.01 during mid-day trading on Monday, hitting $6.48. The stock had a trading volume of 2,037,519 shares, compared to its average volume of 2,526,661. The stock's fifty day simple moving average is $6.19 and its 200-day simple moving average is $5.88. The firm has a market capitalization of $33.82 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 4.41 and a beta of 0.90. Wipro Limited has a 1-year low of $4.48 and a 1-year high of $7.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.70 and a quick ratio of 2.70.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Friday, July 19th. The information technology services provider reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Wipro had a return on equity of 15.01% and a net margin of 12.57%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the business posted $0.06 EPS. As a group, research analysts forecast that Wipro Limited will post 0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WIT. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research note on Friday. Nomura assumed coverage on Wipro in a research note on Tuesday, July 2nd. They set 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 company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $5.60.

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.