Schroder Investment Management Group boosted its stake in shares of Wipro Limited (NYSE:WIT) by 610.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,272,134 shares of the information technology services provider’s stock after buying an additional 1,093,034 shares during the quarter. Schroder Investment Management Group’s holdings in Wipro Limited were worth $6,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in Wipro Limited by 11.8% during the 1st quarter. Wells Fargo & Company MN now owns 867,794 shares of the information technology services provider’s stock valued at $8,878,000 after buying an additional 91,544 shares in the last quarter. Credit Suisse AG raised its holdings in shares of Wipro Limited by 29.3% in the 1st quarter. Credit Suisse AG now owns 1,916,419 shares of the information technology services provider’s stock valued at $19,605,000 after purchasing an additional 434,217 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in shares of Wipro Limited by 86.7% in the 2nd quarter. Eqis Capital Management Inc. now owns 140,889 shares of the information technology services provider’s stock valued at $733,000 after purchasing an additional 65,443 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Wipro Limited by 214.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 501,652 shares of the information technology services provider’s stock valued at $2,609,000 after purchasing an additional 341,958 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Wipro Limited by 277.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 115,133 shares of the information technology services provider’s stock valued at $1,178,000 after purchasing an additional 84,600 shares in the last quarter. Institutional investors own 2.48% of the company’s stock.

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Shares of Wipro Limited (NYSE WIT) opened at 5.76 on Tuesday. Wipro Limited has a 52-week low of $4.50 and a 52-week high of $6.40. The stock has a market cap of $27.87 billion, a P/E ratio of 21.10 and a beta of 0.89. The firm’s 50-day moving average is $6.03 and its 200 day moving average is $5.39.

Wipro Limited (NYSE:WIT) last announced its quarterly earnings results on Thursday, July 20th. The information technology services provider reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.05 billion. Wipro Limited had a net margin of 15.46% and a return on equity of 16.53%. Analysts forecast that Wipro Limited will post $0.28 earnings per share for the current fiscal year.

Wipro Limited declared that its Board of Directors has initiated a share repurchase program on Thursday, July 20th that allows the company to buyback $1.70 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 6.1% of its stock through a tender offer. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Several equities research analysts have recently commented on WIT shares. BidaskClub lowered shares of Wipro Limited from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Wipro Limited from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. BNP Paribas lowered shares of Wipro Limited from a “hold” rating to a “reduce” rating in a report on Thursday, September 14th. Finally, Jefferies Group LLC lowered shares of Wipro Limited from a “hold” rating to an “underperform” rating in a report on Tuesday, June 6th. Four analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $277.00.

Wipro Limited Company Profile

Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.

Institutional Ownership by Quarter for Wipro Limited (NYSE:WIT)

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