AQR Capital Management LLC Purchases 79,431 Shares of Wipro Limited (NYSE:WIT)

AQR Capital Management LLC grew its holdings in shares of Wipro Limited (NYSE:WIT) by 12.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 694,610 shares of the information technology services provider’s stock after buying an additional 79,431 shares during the period. AQR Capital Management LLC’s holdings in Wipro were worth $4,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. QRG Capital Management Inc. lifted its position in Wipro by 6.9% during the 2nd quarter. QRG Capital Management Inc. now owns 25,836 shares of the information technology services provider’s stock valued at $158,000 after acquiring an additional 1,665 shares during the period. Dynamic Advisor Solutions LLC boosted its position in shares of Wipro by 13.6% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,091 shares of the information technology services provider’s stock worth $86,000 after purchasing an additional 1,692 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Wipro by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock worth $33,000 after buying an additional 1,858 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Wipro by 2.7% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 78,573 shares of the information technology services provider’s stock worth $452,000 after buying an additional 2,101 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Wipro by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 14,686 shares of the information technology services provider’s stock valued at $90,000 after buying an additional 2,104 shares during the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on WIT. Nomura Securities raised Wipro to a “strong-buy” rating in a research note on Tuesday, July 2nd. Nomura began coverage on shares of Wipro in a research report on Tuesday, July 2nd. They set a “buy” rating on the stock. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Friday, September 27th. Finally, Investec cut shares of Wipro from a “hold” rating to a “sell” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.60.

Wipro Price Performance

NYSE WIT opened at $6.44 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.70 and a current ratio of 2.70. The company has a market capitalization of $33.61 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 4.43 and a beta of 0.90. The stock has a 50-day moving average of $6.24 and a 200 day moving average of $5.90. Wipro Limited has a one year low of $4.48 and a one year high of $7.01.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, July 19th. The information technology services provider reported $0.07 earnings per share for the quarter, meeting the consensus estimate 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 analysts’ expectations of $2.65 billion. During the same period in the previous year, the company earned $0.06 earnings per share. On average, sell-side analysts forecast that Wipro Limited will post 0.27 EPS for the current year.

Wipro Company 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.