Penserra Capital Management LLC Buys 1,313,832 Shares of Wipro Limited (NYSE:WIT)

Penserra Capital Management LLC increased its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 41.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,517,030 shares of the information technology services provider's stock after buying an additional 1,313,832 shares during the period. Penserra Capital Management LLC's holdings in Wipro were worth $13,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Wipro by 74.3% during the 4th quarter. Bank of New York Mellon Corp now owns 25,451 shares of the information technology services provider's stock worth $90,000 after purchasing an additional 10,851 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Wipro by 100.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 21,000 shares of the information technology services provider's stock worth $74,000 after buying an additional 10,500 shares during the last quarter. Victory Capital Management Inc. raised its stake in Wipro by 65.2% in the fourth quarter. Victory Capital Management Inc. now owns 340,463 shares of the information technology services provider's stock valued at $1,205,000 after buying an additional 134,357 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Wipro in the fourth quarter valued at approximately $46,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Wipro in the fourth quarter valued at approximately $1,667,000. 2.36% of the stock is owned by institutional investors.

Wipro Stock Performance

NYSE:WIT traded down $0.02 during mid-day trading on Monday, hitting $3.09. 4,067,924 shares of the stock were exchanged, compared to its average volume of 4,949,384. The firm's 50-day simple moving average is $2.95 and its 200 day simple moving average is $3.18. The stock has a market capitalization of $32.32 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 8.97 and a beta of 1.02. Wipro Limited has a fifty-two week low of $2.63 and a fifty-two week high of $3.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.72.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $225.66 billion. Wipro had a return on equity of 15.97% and a net margin of 14.73%. As a group, equities analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WIT. Morgan Stanley upgraded Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Wall Street Zen raised shares of Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Finally, Jefferies Financial Group cut shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold".

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.