Wipro Limited (NYSE:WIT) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC raised its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 12.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 694,610 shares of the information technology services provider's stock after buying an additional 79,431 shares during the quarter. AQR Capital Management LLC's holdings in Wipro were worth $4,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Squarepoint Ops LLC lifted its position in shares of Wipro by 143.4% in the second 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 bought a new stake in Wipro in the second quarter worth $7,994,000. Xponance Inc. boosted its position in shares of Wipro by 21.7% during the second quarter. Xponance Inc. now owns 15,866 shares of the information technology services provider's stock valued at $97,000 after buying an additional 2,832 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Wipro by 12.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 76,268 shares of the information technology services provider's stock worth $470,000 after acquiring an additional 8,187 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Wipro during the second quarter worth $531,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on WIT shares. Nomura Securities raised shares of Wipro to a "strong-buy" rating in a research report on Tuesday, July 2nd. Nomura initiated coverage on Wipro in a report on Tuesday, July 2nd. They issued a "buy" rating on the stock. Investec downgraded Wipro from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.60.

Wipro Price Performance

Wipro stock traded up $0.06 during midday trading on Friday, reaching $6.44. The company had a trading volume of 1,919,526 shares, compared to its average volume of 2,512,506. Wipro Limited has a 12-month low of $4.48 and a 12-month high of $7.01. The firm's fifty day simple moving average is $6.24 and its 200-day simple moving average is $5.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.70 and a quick ratio of 2.70. The company has a market capitalization of $33.61 billion, a P/E ratio of 25.76, a P/E/G ratio of 4.43 and a beta of 0.90.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings data on Friday, July 19th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting analysts' consensus estimates of $0.07. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $0.06 earnings per share. As a group, equities analysts anticipate that Wipro Limited will post 0.27 EPS for the current 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.