EverSource Wealth Advisors LLC Buys 8,187 Shares of Wipro Limited (NYSE:WIT)

EverSource Wealth Advisors LLC boosted its stake in Wipro Limited (NYSE:WIT) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,268 shares of the information technology services provider’s stock after purchasing an additional 8,187 shares during the period. EverSource Wealth Advisors LLC’s holdings in Wipro were worth $470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WIT. Wellington Management Group LLP grew its stake in shares of Wipro by 44.0% in the 4th quarter. Wellington Management Group LLP now owns 1,866,359 shares of the information technology services provider’s stock worth $10,396,000 after buying an additional 570,001 shares during the last quarter. Jane Street Group LLC boosted its stake in Wipro by 292.0% in the 1st quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after purchasing an additional 1,001,644 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Wipro by 165.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 277,964 shares of the information technology services provider’s stock valued at $1,598,000 after purchasing an additional 173,072 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Wipro by 65.5% in the first quarter. BNP Paribas Financial Markets now owns 6,160,285 shares of the information technology services provider’s stock worth $35,422,000 after buying an additional 2,437,802 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Wipro by 11.8% in the second quarter. CWM LLC now owns 20,621 shares of the information technology services provider’s stock worth $126,000 after buying an additional 2,178 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 0.6 %

Shares of NYSE:WIT opened at $6.43 on Tuesday. The stock’s 50-day simple moving average is $6.20 and its two-hundred day simple moving average is $5.87. The stock has a market capitalization of $33.56 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 4.49 and a beta of 0.90. Wipro Limited has a 52-week low of $4.48 and a 52-week high of $7.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.70 and a current ratio of 2.70.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on WIT. Nomura started coverage on Wipro in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. Nomura Securities upgraded shares of Wipro to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. 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. Based on data from MarketBeat.com, Wipro currently has an average rating of “Hold” and an average target price of $5.60.

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.