V Square Quantitative Management LLC Has $930,000 Stock Position in Wipro Limited $WIT

V Square Quantitative Management LLC lifted its position in shares of Wipro Limited (NYSE:WIT) by 76.3% in the second quarter, Holdings Channel reports. The institutional investor owned 307,830 shares of the information technology services provider’s stock after acquiring an additional 133,242 shares during the period. V Square Quantitative Management LLC’s holdings in Wipro were worth $930,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of WIT. Hamilton Capital LLC acquired a new stake in shares of Wipro during the first quarter worth $32,000. CogentBlue Wealth Advisors LLC acquired a new stake in shares of Wipro during the first quarter worth $37,000. Legacy Advisors LLC acquired a new stake in shares of Wipro during the first quarter worth $40,000. Hoxton Planning & Management LLC acquired a new stake in shares of Wipro during the first quarter worth $48,000. Finally, Focus Partners Advisor Solutions LLC raised its stake in Wipro by 62.4% in the first quarter. Focus Partners Advisor Solutions LLC now owns 16,253 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 6,245 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Up 0.2%

WIT stock opened at $2.66 on Tuesday. Wipro Limited has a 52 week low of $2.61 and a 52 week high of $3.79. The business has a 50-day simple moving average of $2.76 and a 200 day simple moving average of $2.88. The company has a market cap of $27.80 billion, a PE ratio of 17.13 and a beta of 0.96.

Wipro (NYSE:WIT) last released its earnings results on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.94% and a net margin of 15.07%.The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $219.23 billion. On average, analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 28th were given a $0.057 dividend. This represents a yield of 409.9%. The ex-dividend date was Monday, July 28th. Wipro’s payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised Wipro from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 20th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Wipro 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.