Creative Planning Purchases 226,915 Shares of Wipro Limited (NYSE:WIT)

Creative Planning raised its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 26.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,073,419 shares of the information technology services provider's stock after acquiring an additional 226,915 shares during the quarter. Creative Planning's holdings in Wipro were worth $6,548,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Millennium Management LLC lifted its stake in shares of Wipro by 67.6% in the 2nd quarter. Millennium Management LLC now owns 5,622,699 shares of the information technology services provider's stock valued at $34,298,000 after purchasing an additional 2,267,995 shares during the period. AQR Capital Management LLC lifted its stake in Wipro by 12.9% in the second quarter. AQR Capital Management LLC now owns 694,610 shares of the information technology services provider's stock valued at $4,223,000 after buying an additional 79,431 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Wipro by 143.4% during the 2nd quarter. Squarepoint Ops LLC now owns 821,228 shares of the information technology services provider's stock worth $5,009,000 after buying an additional 483,893 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Wipro during the 2nd quarter worth approximately $7,994,000. Finally, Xponance Inc. increased its stake in shares of Wipro by 21.7% in the 2nd 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 in the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Stock Down 1.6 %

Shares of WIT traded down $0.11 on Thursday, reaching $6.39. The company's stock had a trading volume of 1,903,550 shares, compared to its average volume of 2,515,611. Wipro Limited has a twelve month low of $4.48 and a twelve month high of $7.01. The stock has a market capitalization of $33.32 billion, a PE ratio of 25.52, a PEG ratio of 4.41 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $6.22 and a 200-day moving average of $5.89.

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. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.65 billion. Wipro had a return on equity of 15.01% and a net margin of 12.57%. During the same period in the prior year, the business posted $0.06 earnings per share. Equities analysts predict that Wipro Limited will post 0.27 EPS for the current year.

Analyst Ratings Changes

WIT has been the subject of a number of research reports. Nomura assumed coverage on shares of Wipro in a report on Tuesday, July 2nd. They issued a "buy" rating for the company. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Friday, September 27th. Nomura Securities raised Wipro to a "strong-buy" rating in a research note on Tuesday, July 2nd. Finally, Investec cut Wipro from a "hold" rating to a "sell" rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.60.

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.