Wipro Limited (NYSE:WIT) Receives Consensus Rating of “Hold” from Analysts

Shares of Wipro Limited (NYSE:WIT) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.60.

A number of equities research analysts have weighed in on the company. Nomura Securities raised Wipro to a “strong-buy” rating in a report on Tuesday, July 2nd. Nomura began coverage on Wipro in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Friday, September 27th. Finally, Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd.

Institutional Trading of Wipro

A number of institutional investors and hedge funds have recently bought and sold shares of WIT. V Square Quantitative Management LLC purchased a new stake in Wipro during the fourth quarter worth approximately $353,000. Wellington Management Group LLP boosted its position in Wipro by 44.0% during 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 purchasing an additional 570,001 shares during the period. Fisher Asset Management LLC increased its holdings in Wipro by 3.8% in the 4th quarter. Fisher Asset Management LLC now owns 2,313,160 shares of the information technology services provider’s stock valued at $12,884,000 after purchasing an additional 84,519 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Wipro in the fourth quarter valued at about $377,000. Finally, GAMMA Investing LLC boosted its holdings in Wipro by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock worth $33,000 after acquiring an additional 1,858 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Trading Up 3.6 %

Shares of Wipro stock opened at $6.60 on Thursday. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $6.28 and a 200-day simple moving average of $5.92. The stock has a market cap of $34.48 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 4.32 and a beta of 0.90. Wipro has a 12-month low of $4.48 and a 12-month high of $7.01.

Wipro (NYSE:WIT) last announced its earnings results 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 business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the firm posted $0.06 earnings per share. On average, equities analysts forecast that Wipro will post 0.27 EPS for the current fiscal year.

Wipro Company 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.