Squarepoint Ops LLC Purchases 483,893 Shares of Wipro Limited (NYSE:WIT)

Squarepoint Ops LLC lifted its stake in Wipro Limited (NYSE:WIT - Free Report) by 143.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 821,228 shares of the information technology services provider's stock after purchasing an additional 483,893 shares during the period. Squarepoint Ops LLC's holdings in Wipro were worth $5,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Wipro by 47.2% during the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider's stock valued at $33,000 after acquiring an additional 1,858 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Wipro during the 1st quarter valued at about $60,000. Mayflower Financial Advisors LLC purchased a new position in Wipro during the 2nd quarter valued at about $64,000. Atomi Financial Group Inc. lifted its position in Wipro by 29.4% during the 1st quarter. Atomi Financial Group Inc. now owns 13,305 shares of the information technology services provider's stock valued at $77,000 after acquiring an additional 3,023 shares during the period. Finally, Advisors Preferred LLC purchased a new position in Wipro in the first quarter worth about $79,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WIT shares. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a report on Friday. Nomura started coverage on shares of Wipro in a report on Tuesday, July 2nd. They issued a "buy" rating for the company. Finally, Nomura Securities raised shares of Wipro to a "strong-buy" rating in a report on Tuesday, July 2nd. Two 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, Wipro has a consensus rating of "Hold" and an average target price of $5.60.

Wipro Stock Performance

Shares of WIT stock traded up $0.10 during trading hours on Tuesday, reaching $6.59. The company had a trading volume of 1,917,588 shares, compared to its average volume of 2,523,690. The business has a fifty day moving average price of $6.20 and a 200-day moving average price of $5.88. Wipro Limited has a one year low of $4.48 and a one year high of $7.01. The firm has a market cap of $34.37 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 4.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.70 and a current ratio of 2.70.

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