Squarepoint Ops LLC Purchases 899,312 Shares of Wipro Limited (NYSE:WIT)

Squarepoint Ops LLC lifted its stake in Wipro Limited (NYSE:WIT - Free Report) by 111.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,709,197 shares of the information technology services provider's stock after buying an additional 899,312 shares during the period. Squarepoint Ops LLC's holdings in Wipro were worth $6,051,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WIT. Vanguard Group Inc. increased its holdings in 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 valued at $82,692,000 after purchasing an additional 11,196,013 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in 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 valued at $55,925,000 after purchasing an additional 4,215,981 shares in the last quarter. Schroder Investment Management Group increased its holdings in Wipro by 177.6% during the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider's stock valued at $34,280,000 after purchasing an additional 6,195,561 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Wipro by 41.5% during the 4th quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider's stock valued at $30,956,000 after purchasing an additional 2,566,388 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Wipro by 97.9% during the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider's stock valued at $26,636,000 after purchasing an additional 3,722,115 shares in the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WIT. Jefferies Financial Group cut Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold".

Wipro Trading Up 0.2%

WIT traded up $0.01 during mid-day trading on Friday, reaching $2.90. The stock had a trading volume of 725,535 shares, compared to its average volume of 5,022,726. The stock has a market capitalization of $30.28 billion, a P/E ratio of 19.97, a P/E/G ratio of 3.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The firm's fifty day simple moving average is $2.89 and its two-hundred day simple moving average is $3.79. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, equities analysts predict that Wipro Limited will post 0.14 EPS for the current year.

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.