CenterBook Partners LP Invests $426,000 in Wipro Limited (NYSE:WIT)

Key Points

• CenterBook Partners LP acquired 139,377 shares of Wipro Limited (NYSE: WIT), marking a significant new investment worth approximately $426,000.
• Wipro has seen increased interest from institutional investors, with firms like Vanguard Group and LPL Financial boosting their stakes by significant percentages in the last quarter.
• Analysts are optimistic about Wipro's performance, with ratings ranging from "buy" to "hold," and a projected earnings per share of 0.14 for the current year.

CenterBook Partners LP acquired a new position in shares of Wipro Limited (NYSE:WIT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 139,377 shares of the information technology services provider's stock, valued at approximately $426,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Wipro by 92.0% during 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 in the last quarter. Marshall Wace LLP purchased a new position in Wipro in the 4th quarter valued at approximately $20,008,000. BNP Paribas Financial Markets raised its stake in shares of Wipro by 36.4% during 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 buying an additional 4,215,981 shares during the last quarter. Northern Trust Corp boosted its position in shares of 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 buying an additional 1,697,118 shares in the last quarter. Finally, Promethos Capital LLC boosted its position in shares of Wipro by 100.0% in the 4th quarter. Promethos Capital LLC now owns 2,793,938 shares of the information technology services provider's stock worth $9,891,000 after buying an additional 1,396,969 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Trading Up 0.6%

Shares of NYSE WIT traded up $0.02 on Tuesday, reaching $2.67. 4,703,261 shares of the company traded hands, compared to its average volume of 6,128,981. The stock has a market capitalization of $27.88 billion, a PE ratio of 17.19, 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. The company has a 50 day moving average of $2.93 and a 200 day moving average of $3.06.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of 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 report on Friday, June 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold".

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.