XY Capital Ltd Buys New Position in Wipro Limited (NYSE:WIT)

Key Points

• XY Capital Ltd has acquired a new position in Wipro Limited, purchasing 170,601 shares valued at approximately $522,000, making Wipro its 28th largest holding.
• Several institutional investors, including Mirae Asset Global Investments and PNC Financial Services Group, have increased their stakes in Wipro, reflecting a growing interest among institutional shareholders.
• Wipro's stock has seen a mixed rating from analysts, with a consensus rating of "Hold", although some analysts have upgraded the stock from lower ratings in recent reports.

XY Capital Ltd purchased a new stake in shares of Wipro Limited (NYSE:WIT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 170,601 shares of the information technology services provider's stock, valued at approximately $522,000. Wipro accounts for about 0.1% of XY Capital Ltd's holdings, making the stock its 28th largest position.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Wipro by 92.0% in the 4th quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock worth $82,692,000 after purchasing an additional 11,196,013 shares during the last quarter. BNP Paribas Financial Markets increased its position in Wipro by 36.4% in the 4th quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider's stock worth $55,925,000 after purchasing an additional 4,215,981 shares during the last quarter. Marshall Wace LLP acquired a new position in Wipro in the 4th quarter worth about $20,008,000. Penserra Capital Management LLC increased its position in Wipro by 41.0% in the 1st quarter. Penserra Capital Management LLC now owns 4,517,030 shares of the information technology services provider's stock worth $13,822,000 after purchasing an additional 1,313,832 shares during the last quarter. Finally, Millennium Management LLC increased its position in Wipro by 11.3% in the 4th quarter. Millennium Management LLC now owns 4,175,166 shares of the information technology services provider's stock worth $14,780,000 after purchasing an additional 423,840 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on WIT. Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Morgan Stanley upgraded Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold".

Wipro Stock Performance

Shares of WIT traded up $0.02 during trading hours on Friday, hitting $2.68. 5,660,758 shares of the company were exchanged, compared to its average volume of 8,668,429. The company has a market cap of $28.03 billion, a PE ratio of 17.29, a PEG ratio of 9.69 and a beta of 0.93. The firm's 50 day moving average is $2.93 and its 200-day moving average is $3.07. Wipro Limited has a 52 week low of $2.62 and a 52 week high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last announced its earnings results on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $219.23 billion. As a group, equities analysts forecast that Wipro Limited will post 0.14 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.