623,900 Shares in Wipro Limited $WIT Acquired by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired 623,900 shares of Wipro Limited, valued at approximately $1,909,000 in the 1st quarter.
• Analysts have mixed ratings on Wipro, with Morgan Stanley upgrading the stock to "equal weight" while the consensus rating remains a "Reduce."
• Wipro recently announced a dividend payout of $0.057, with a dividend yield of 409.9%, despite a reported earnings per share of $0.04 meeting estimates.

Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Wipro Limited (NYSE:WIT - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 623,900 shares of the information technology services provider's stock, valued at approximately $1,909,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WIT. Focus Partners Advisor Solutions LLC acquired a new position in Wipro during the 4th quarter valued at about $35,000. CogentBlue Wealth Advisors LLC acquired a new position in Wipro during the 1st quarter valued at about $37,000. Legacy Advisors LLC acquired a new position in Wipro during the 1st quarter valued at about $40,000. Captrust Financial Advisors acquired a new position in Wipro during the 4th quarter valued at about $44,000. Finally, Hoxton Planning & Management LLC acquired a new position in Wipro during the 1st quarter valued at about $48,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Stock Performance

Shares of NYSE:WIT traded down $0.04 during trading on Thursday, reaching $2.74. The company had a trading volume of 4,093,371 shares, compared to its average volume of 6,168,879. The firm's fifty day moving average is $2.85 and its 200 day moving average is $2.95. The firm has a market capitalization of $28.64 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 10.09 and a beta of 0.96. Wipro Limited has a twelve month low of $2.62 and a twelve month high of $3.79.

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

Wipro Cuts Dividend

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

Analyst Ratings Changes

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

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.