Squarepoint Ops LLC Purchases 899,312 Shares of Wipro Limited (NYSE:WIT)

Squarepoint Ops LLC lifted its position in shares of Wipro Limited (NYSE:WIT) by 111.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,709,197 shares of the information technology services provider’s stock after purchasing an additional 899,312 shares during the quarter. Squarepoint Ops LLC’s holdings in Wipro were worth $6,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP boosted its position in shares of Wipro by 143.1% during the fourth quarter. Two Sigma Advisers LP now owns 184,500 shares of the information technology services provider’s stock worth $653,000 after purchasing an additional 108,600 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Wipro during the fourth quarter worth $56,000. Quantinno Capital Management LP boosted its position in shares of Wipro by 125.8% during the fourth quarter. Quantinno Capital Management LP now owns 244,689 shares of the information technology services provider’s stock worth $866,000 after purchasing an additional 136,329 shares in the last quarter. Man Group plc bought a new stake in Wipro in the 4th quarter valued at $1,743,000. Finally, Nomura Holdings Inc. lifted its position in Wipro by 100.0% in the 4th quarter. Nomura Holdings Inc. now owns 478,992 shares of the information technology services provider’s stock valued at $1,696,000 after acquiring an additional 239,496 shares in the last quarter. 2.36% of the stock is owned by institutional investors.

Wipro Trading Up 0.5%

WIT opened at $2.87 on Friday. The stock has a market capitalization of $29.97 billion, a P/E ratio of 19.76, a P/E/G ratio of 3.08 and a beta of 1.03. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The firm’s fifty day simple moving average is $2.91 and its 200 day simple moving average is $3.88. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $225.66 billion. As a group, research analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WIT. Jefferies Financial Group cut shares of Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. Wall Street Zen raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold”.

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.