Acadian Asset Management LLC Has $64.17 Million Stake in Wipro Limited $WIT

Key Points

• Acadian Asset Management LLC increased its stake in Wipro Limited by 44.4%, owning 20,977,514 shares worth approximately $64.17 million.
• Wipro recently reported an EPS of $0.04 for the quarter, meeting analysts' expectations, and had a revenue of $2.58 billion.
• The company announced a dividend yield of 409.9%, with a recent payout of $0.057 per share, while maintaining a dividend payout ratio of 62.50%.

Acadian Asset Management LLC increased its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 44.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,977,514 shares of the information technology services provider's stock after acquiring an additional 6,447,184 shares during the period. Acadian Asset Management LLC owned 0.20% of Wipro worth $64,171,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC acquired a new position in shares of Wipro during the 4th quarter valued at about $35,000. Hamilton Capital LLC bought a new stake in Wipro during the 1st quarter valued at approximately $32,000. CogentBlue Wealth Advisors LLC bought a new stake in Wipro during the 1st quarter valued at approximately $37,000. Captrust Financial Advisors bought a new stake in Wipro during the 4th quarter valued at approximately $44,000. Finally, Legacy Advisors LLC bought a new stake in Wipro during the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Trading Up 1.6%

Shares of WIT stock opened at $2.82 on Thursday. The stock has a 50 day moving average of $2.83 and a two-hundred day moving average of $2.93. Wipro Limited has a 12 month low of $2.62 and a 12 month high of $3.79. The company has a market capitalization of $29.47 billion, a P/E ratio of 18.16, a P/E/G ratio of 10.09 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Wipro had a return on equity of 15.94% and a net margin of 15.07%.The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $219.23 billion. Sell-side analysts predict that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 28th were given a dividend of $0.057 per share. This represents a dividend yield of 409.9%. The ex-dividend date was Monday, July 28th. Wipro's dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Wipro presently has an average rating of "Reduce".

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.

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