Renaissance Technologies LLC Acquires Shares of 120,900 Wipro Limited (NYSE:WIT)

Renaissance Technologies LLC purchased a new position in shares of Wipro Limited (NYSE:WIT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 120,900 shares of the information technology services provider's stock, valued at approximately $737,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WIT. V Square Quantitative Management LLC acquired a new position in Wipro during the fourth quarter worth about $353,000. Wellington Management Group LLP boosted its position in Wipro by 44.0% during the fourth quarter. Wellington Management Group LLP now owns 1,866,359 shares of the information technology services provider's stock worth $10,396,000 after acquiring an additional 570,001 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Wipro by 3.8% in the 4th quarter. Fisher Asset Management LLC now owns 2,313,160 shares of the information technology services provider's stock valued at $12,884,000 after purchasing an additional 84,519 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Wipro in the 4th quarter valued at about $377,000. Finally, GAMMA Investing LLC boosted its holdings in Wipro by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider's stock valued at $33,000 after purchasing an additional 1,858 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WIT shares. Nomura started coverage on shares of Wipro in a report on Tuesday, July 2nd. They issued a "buy" rating on the stock. Investec lowered shares of Wipro from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a report on Friday, September 27th. Finally, Nomura Securities upgraded shares of Wipro to a "strong-buy" rating in a report on Tuesday, July 2nd. Three 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $5.60.

Wipro Trading Up 0.8 %

Shares of WIT stock traded up $0.05 during trading hours on Wednesday, hitting $6.42. The company had a trading volume of 1,271,593 shares, compared to its average volume of 2,496,433. The company's fifty day moving average is $6.24 and its 200 day moving average is $5.90. 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 Limited has a fifty-two week low of $4.48 and a fifty-two week high of $7.01. The stock has a market capitalization of $33.51 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 4.39 and a beta of 0.90.

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

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.