5 Best Cheap Stocks to Buy Now According to Billionaire Jim Simons

3. Wipro Limited (NYSE: WIT)

Simons’ Stake Value: $5,359,000
Percentage of Jim Simons’ 13F Portfolio: 0.001%
Number of Hedge Fund Holders: 13

Wipro Limited (NYSE: WIT) is a global information technology (IT) that offers consulting and business process services to companies worldwide. It is placed third on our list of 10 best cheap stocks to buy now according to billionaire Jim Simons. Wipro stock has returned more than 139.58% to investors over the past year.

In April, Wipro acquired Ampion to strengthen its commitment towards clients and stakeholders in New Zealand and Australia. Wipro also collaborated with Finxact through which the former will leverage its expertise to help clients become the end-to-end provider for system management, legacy core transformation, and banking operations.

Renaissance holds 845,293 shares in the firm worth over $5.35 million. Renaissance has trimmed their Wipro stake by 70% in the previous quarter. Out of the hedge funds being tracked by Insider Monkey, AQR Capital Management is a leading shareholder in Wipro Limited (NYSE: WIT) with 14.38 million shares worth more than $91.18 million.