Victory Capital Management Inc. Acquires Shares of 151,315 Wipro Limited (NYSE:WIT)

Victory Capital Management Inc. bought a new position in Wipro Limited (NYSE:WIT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 151,315 shares of the information technology services provider’s stock, valued at approximately $923,000.

A number of other institutional investors have also recently made changes to their positions in WIT. Team Hewins LLC bought a new position in Wipro in the 4th quarter valued at approximately $168,000. Sepio Capital LP bought a new position in shares of Wipro during the fourth quarter valued at $124,000. Capstone Investment Advisors LLC purchased a new stake in shares of Wipro during the fourth quarter valued at $585,000. Angeles Investment Advisors LLC increased its holdings in Wipro by 9.7% in the 4th quarter. Angeles Investment Advisors LLC now owns 56,260 shares of the information technology services provider’s stock worth $313,000 after buying an additional 4,991 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Wipro in the 4th quarter worth about $353,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Stock Performance

Shares of NYSE WIT opened at $6.46 on Friday. Wipro Limited has a 12-month low of $4.48 and a 12-month high of $7.01. The firm 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 current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $6.20 and a 200 day moving average of $5.87.

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

Analyst Ratings Changes

A number of brokerages have recently commented on WIT. Nomura initiated coverage on shares of Wipro in a research note on Tuesday, July 2nd. They issued a “buy” rating for the company. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Nomura Securities raised Wipro to a “strong-buy” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.60.

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.