14,747 Shares in Wipro Limited (NYSE:WIT) Acquired by Choreo LLC

Choreo LLC acquired a new position in Wipro Limited (NYSE:WIT) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,747 shares of the information technology services provider’s stock, valued at approximately $91,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WIT. BNP Paribas Financial Markets grew its holdings in Wipro by 65.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,160,285 shares of the information technology services provider’s stock worth $35,422,000 after buying an additional 2,437,802 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Wipro by 6,295.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,800,000 shares of the information technology services provider’s stock worth $10,260,000 after buying an additional 1,771,854 shares in the last quarter. Jane Street Group LLC grew its holdings in Wipro by 292.0% in the 1st quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after buying an additional 1,001,644 shares in the last quarter. Wellington Management Group LLP grew its holdings in Wipro by 44.0% in the 4th quarter. Wellington Management Group LLP now owns 1,866,359 shares of the information technology services provider’s stock worth $10,396,000 after buying an additional 570,001 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Wipro by 154.1% in the 1st quarter. Lazard Asset Management LLC now owns 855,496 shares of the information technology services provider’s stock worth $4,919,000 after buying an additional 518,866 shares in the last quarter. 2.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WIT has been the subject of a number of research analyst reports. Nomura Securities upgraded Wipro to a “strong-buy” rating in a research report on Tuesday, July 2nd. Nomura initiated coverage on Wipro in a research report on Tuesday, July 2nd. They issued a “buy” rating for the company. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.60.

Wipro Stock Performance

WIT opened at $6.46 on Friday. Wipro Limited has a 1-year low of $4.48 and a 1-year high of $7.01. The business has a 50 day moving average price of $6.20 and a two-hundred day moving average price of $5.87. The company has a market capitalization of $33.75 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 4.49 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.70 and a quick ratio of 2.70.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, July 19th. The information technology services provider reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Wipro had a return on equity of 15.01% and a net margin of 12.57%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. Research analysts predict that Wipro Limited will post 0.27 EPS for the current fiscal 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.