Mercer Global Advisors Inc. ADV Sells 8,422 Shares of Wipro Limited (NYSE:WIT)

Mercer Global Advisors Inc. ADV cut its holdings in Wipro Limited (NYSE:WIT) by 39.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,087 shares of the information technology services provider’s stock after selling 8,422 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Wipro were worth $80,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WIT. GAMMA Investing LLC raised its holdings in shares of Wipro by 47.2% in the first quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 1,858 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Wipro in the first quarter valued at approximately $60,000. Mayflower Financial Advisors LLC acquired a new stake in shares of Wipro in the second quarter valued at approximately $64,000. Atomi Financial Group Inc. raised its holdings in shares of Wipro by 29.4% in the first quarter. Atomi Financial Group Inc. now owns 13,305 shares of the information technology services provider’s stock valued at $77,000 after purchasing an additional 3,023 shares during the last quarter. Finally, Advisors Preferred LLC acquired a new stake in shares of Wipro in the first quarter valued at approximately $79,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Friday, September 27th. Nomura Securities upgraded shares of Wipro to a “strong-buy” rating in a report on Tuesday, July 2nd. Finally, Nomura assumed coverage on shares of Wipro in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. Two 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.60.

Wipro Trading Up 1.6 %

WIT stock opened at $6.59 on Wednesday. Wipro Limited has a one year low of $4.48 and a one year high of $7.01. The company has a fifty day moving average price of $6.21 and a two-hundred day moving average price of $5.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.70 and a quick ratio of 2.70. The stock has a market cap of $34.37 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 4.41 and a beta of 0.90.

Wipro (NYSE:WIT) last issued its quarterly earnings results 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. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Wipro had a return on equity of 15.01% and a net margin of 12.57%. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities analysts anticipate that Wipro Limited will post 0.27 EPS for the current year.

About Wipro

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.