Marshall Wace LLP Makes New $7.99 Million Investment in Wipro Limited (NYSE:WIT)

Marshall Wace LLP acquired a new stake in shares of Wipro Limited (NYSE:WIT) in the second quarter, HoldingsChannel.com reports. The fund acquired 1,310,519 shares of the information technology services provider’s stock, valued at approximately $7,994,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in WIT. Xponance Inc. boosted its position in Wipro by 21.7% during the 2nd 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 grew its stake in shares of Wipro by 12.0% in the second quarter. EverSource Wealth Advisors LLC now owns 76,268 shares of the information technology services provider’s stock worth $470,000 after purchasing an additional 8,187 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Wipro during the 2nd quarter valued at about $531,000. Vanguard Personalized Indexing Management LLC raised its position in 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 valued at $3,216,000 after purchasing an additional 49,646 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Wipro in the 2nd quarter worth approximately $737,000. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 2.0 %

WIT opened at $6.47 on Monday. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.08. Wipro Limited has a 52 week low of $4.48 and a 52 week high of $7.01. The stock has a market cap of $33.80 billion, a PE ratio of 25.88, a PEG ratio of 4.41 and a beta of 0.90. The business has a 50 day moving average of $6.19 and a 200-day moving average of $5.88.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, July 19th. The information technology services provider reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The business had revenue of $2.64 billion during 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 last year, the firm posted $0.06 earnings per share. Equities research analysts predict that Wipro Limited will post 0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WIT. Nomura Securities raised Wipro to a “strong-buy” rating in a research note on Tuesday, July 2nd. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Nomura initiated coverage on shares of Wipro in a research report on Tuesday, July 2nd. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus 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.