Quantbot Technologies LP Purchases Shares of 319,832 Wipro Limited $WIT

Key Points

• Quantbot Technologies LP has acquired 319,832 shares of Wipro Limited, valued at approximately $979,000, marking a new stake in the company.
• Wipro reported earnings of $0.04 per share for the last quarter, meeting consensus estimates, and had a revenue of $2.58 billion.
• Analysts have varied ratings on Wipro, with Wall Street Zen upgrading it from "hold" to "buy" while the overall consensus rating remains at "Reduce".

Quantbot Technologies LP purchased a new stake in Wipro Limited (NYSE:WIT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 319,832 shares of the information technology services provider's stock, valued at approximately $979,000.

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

Wipro Stock Down 0.5%

NYSE:WIT traded down $0.02 on Thursday, reaching $2.80. 2,461,128 shares of the company's stock were exchanged, compared to its average volume of 6,155,059. The business has a fifty day moving average of $2.89 and a 200-day moving average of $2.99. 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 $29.24 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 10.13 and a beta of 0.93.

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 for the quarter, hitting analysts' consensus estimates of $0.04. Wipro had a net margin of 15.07% and a return on equity of 15.94%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $219.23 billion. As a group, equities analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Wipro Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 28th were paid 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 is presently 62.50%.

Analyst Ratings Changes

Separately, Morgan Stanley upgraded shares of Wipro from an "underweight" rating to an "equal weight" rating in a research report on Friday, June 20th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

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.