Dimensional Fund Advisors LP Has $4.73 Million Holdings in Wipro Limited (NYSE:WIT)

Dimensional Fund Advisors LP raised its stake in Wipro Limited (NYSE:WIT - Free Report) by 38.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774,867 shares of the information technology services provider's stock after buying an additional 214,712 shares during the period. Dimensional Fund Advisors LP's holdings in Wipro were worth $4,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Wipro by 47.2% during 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 period. Mayflower Financial Advisors LLC acquired a new position in shares of Wipro during the second quarter worth $64,000. Oppenheimer & Co. Inc. bought a new stake in shares of Wipro in the first quarter worth $60,000. Atomi Financial Group Inc. increased its holdings in 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 period. Finally, Advisors Preferred LLC acquired a new stake in Wipro in the first quarter valued at $79,000. Institutional investors own 2.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WIT shares. Nomura initiated coverage on Wipro in a research report on Tuesday, July 2nd. They issued a "buy" rating on the stock. Investec cut Wipro from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research report on Friday, September 27th. Finally, Nomura Securities upgraded shares of Wipro to a "strong-buy" rating in a research report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wipro currently has an average rating of "Hold" and a consensus target price of $5.60.

Wipro Trading Down 2.3 %

Shares of NYSE:WIT traded down $0.15 during midday trading on Thursday, reaching $6.27. The company's stock had a trading volume of 2,624,988 shares, compared to its average volume of 2,497,088. The firm has a 50 day moving average price of $6.25 and a two-hundred day moving average price of $5.91. Wipro Limited has a fifty-two week low of $4.48 and a fifty-two week high of $7.01. The firm has a market capitalization of $32.72 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 4.39 and a beta of 0.90. 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 - Get Free Report) last issued its quarterly earnings results on Friday, July 19th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.65 billion. Wipro had a return on equity of 15.01% and a net margin of 12.57%. During the same period in the previous year, the firm earned $0.06 earnings per share. As a group, analysts forecast that Wipro Limited will post 0.27 earnings per share for the current year.

Wipro 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.