139,377 Shares in Wipro Limited (NYSE:WIT) Bought by CenterBook Partners LP

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Wipro by 5.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,692 shares of the information technology services provider's stock worth $278,000 after buying an additional 5,103 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Wipro by 2.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 215,015 shares of the information technology services provider's stock worth $658,000 after buying an additional 5,618 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Wipro by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 68,860 shares of the information technology services provider's stock worth $244,000 after buying an additional 6,323 shares during the last quarter. Optas LLC increased its holdings in shares of Wipro by 19.7% during the 1st quarter. Optas LLC now owns 41,314 shares of the information technology services provider's stock worth $126,000 after buying an additional 6,801 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Wipro by 44.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,272 shares of the information technology services provider's stock worth $83,000 after buying an additional 8,392 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Wall Street Analyst Weigh In

WIT has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Morgan Stanley raised shares of 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Wipro Stock Up 0.8%

WIT stock traded up $0.02 during midday trading on Friday, hitting $2.68. The company's stock had a trading volume of 5,660,758 shares, compared to its average volume of 8,668,429. Wipro Limited has a 52-week low of $2.62 and a 52-week high of $3.79. The firm has a market capitalization of $28.03 billion, a P/E ratio of 17.29, a PEG ratio of 9.69 and a beta of 0.93. The firm has a 50-day simple moving average of $2.93 and a 200-day simple moving average of $3.07.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 15.07% and a return on equity of 15.94%. The company had revenue of $2.58 billion during the quarter, compared to analysts' expectations of $219.23 billion. On average, sell-side analysts expect 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.