XY Capital Ltd Makes New $522,000 Investment 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 acquired a new position in shares of Wipro Limited (NYSE:WIT - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 170,601 shares of the information technology services provider's stock, valued at approximately $522,000. Wipro comprises 0.1% of XY Capital Ltd's holdings, making the stock its 28th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC purchased a new stake in shares of Wipro during the fourth quarter valued at $461,000. Northern Trust Corp lifted its holdings in Wipro by 172.8% in the 4th quarter. Northern Trust Corp now owns 2,679,066 shares of the information technology services provider's stock worth $9,484,000 after purchasing an additional 1,697,118 shares during the last quarter. Legal & General Group Plc lifted its holdings in Wipro by 100.0% in the 4th quarter. Legal & General Group Plc now owns 106,088 shares of the information technology services provider's stock worth $375,000 after purchasing an additional 53,044 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Wipro by 116.5% in the 4th quarter. Wells Fargo & Company MN now owns 16,370 shares of the information technology services provider's stock valued at $58,000 after buying an additional 8,808 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Wipro by 68.1% in the 4th quarter. Invesco Ltd. now owns 335,023 shares of the information technology services provider's stock worth $1,186,000 after acquiring an additional 135,766 shares during the period. Institutional investors own 2.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Morgan Stanley upgraded Wipro from an "underweight" rating to an "equal weight" rating in a research report on Friday, June 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Wipro has a consensus rating of "Hold".

Wipro Stock Up 0.2%

Shares of WIT traded up $0.01 during trading hours on Tuesday, hitting $2.66. 4,976,772 shares of the company were exchanged, compared to its average volume of 6,135,933. The firm's fifty day moving average is $2.93 and its 200 day moving average is $3.06. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 9.69 and a beta of 0.93. Wipro Limited has a fifty-two week low of $2.62 and a fifty-two week high of $3.79.

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

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.