Walleye Capital LLC Acquires New Position in Wipro Limited $WIT

Key Points

• Walleye Capital LLC bought 931,253 shares of Wipro Limited, valued at approximately $2.85 million, marking a significant investment in the company.
• Multiple institutional investors, including Barclays PLC and Northern Trust Corp, have also increased their stakes in Wipro during the last quarter.
• The company recently reported quarterly earnings of $0.04 per share, in line with consensus estimates, and announced a dividend of $0.057 per share with a payout ratio of 62.50%.

Walleye Capital LLC acquired a new position in shares of Wipro Limited (NYSE:WIT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 931,253 shares of the information technology services provider's stock, valued at approximately $2,850,000.

Other large investors also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC acquired a new position in shares of Wipro during the 4th quarter worth about $35,000. CogentBlue Wealth Advisors LLC acquired a new stake in Wipro in the 1st quarter valued at about $37,000. Legacy Advisors LLC acquired a new stake in Wipro in the 1st quarter valued at about $40,000. Captrust Financial Advisors acquired a new stake in Wipro in the 4th quarter valued at about $44,000. Finally, Hoxton Planning & Management LLC acquired a new stake in Wipro in the 1st quarter valued at about $48,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upgraded 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce".

Wipro Price Performance

Wipro stock traded down $0.04 during trading hours on Monday, hitting $2.77. The company had a trading volume of 5,654,995 shares, compared to its average volume of 7,386,303. Wipro Limited has a one year low of $2.62 and a one year high of $3.79. The firm has a 50-day moving average of $2.88 and a 200 day moving average of $2.97. The firm has a market cap of $28.95 billion, a PE ratio of 17.84, a PEG ratio of 10.06 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last announced its earnings results on Thursday, July 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting 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 for the quarter, compared to analysts' expectations of $219.23 billion. As a group, research analysts expect that Wipro Limited will post 0.14 earnings per share for the current year.

Wipro Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 28th were paid a $0.057 dividend. This represents a yield of 409.9%. The ex-dividend date of this dividend was Monday, July 28th. Wipro's dividend payout ratio (DPR) is 62.50%.

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.