V Square Quantitative Management LLC Acquires 133,242 Shares of Wipro Limited $WIT

Key Points

• V Square Quantitative Management LLC increased its stake in Wipro Limited by 76.3%, acquiring an additional 133,242 shares, bringing its total holdings to 307,830 shares valued at approximately $930,000.
• Wipro recently declared a dividend of $0.057 per share, with a yield of 409.9%, despite a dividend payout ratio (DPR) of 62.50%.
• The company's stock has shown a 1-year price range with a low of $2.61 and a high of $3.79, currently trading at $2.66.

V Square Quantitative Management LLC raised its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 76.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 307,830 shares of the information technology services provider's stock after acquiring an additional 133,242 shares during the quarter. V Square Quantitative Management LLC's holdings in Wipro were worth $930,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WIT. Two Sigma Advisers LP grew its stake in shares of Wipro by 143.1% in the fourth quarter. Two Sigma Advisers LP now owns 184,500 shares of the information technology services provider's stock valued at $653,000 after buying an additional 108,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wipro by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,692 shares of the information technology services provider's stock valued at $278,000 after buying an additional 5,103 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Wipro in the first quarter valued at $90,000. GAMMA Investing LLC grew its stake in shares of Wipro by 182.7% in the first quarter. GAMMA Investing LLC now owns 65,291 shares of the information technology services provider's stock valued at $200,000 after buying an additional 42,192 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Wipro by 89.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,432 shares of the information technology services provider's stock valued at $1,704,000 after buying an additional 227,875 shares in the last quarter. 2.36% of the stock is owned by institutional investors.

Wipro Price Performance

Shares of Wipro stock opened at $2.66 on Tuesday. The business has a fifty day simple moving average of $2.76 and a two-hundred day simple moving average of $2.88. Wipro Limited has a 1 year low of $2.61 and a 1 year high of $3.79. The company has a market capitalization of $27.80 billion, a price-to-earnings ratio of 17.13 and a beta of 0.96.

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

Wipro Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 28th were issued a dividend of $0.057 per share. The ex-dividend date of this dividend was Monday, July 28th. This represents a yield of 409.9%. Wipro's dividend payout ratio (DPR) is currently 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 equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce".

About Wipro

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.

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