Wipro (NYSE:WIT) Upgraded at UBS Group

UBS Group upgraded shares of Wipro (NYSE:WIT) from a sell rating to a neutral rating in a report published on Thursday morning, MarketBeat.com reports.

Other equities research analysts also recently issued research reports about the company. Investec downgraded Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research note on Monday, December 30th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wipro has a consensus rating of “Hold” and an average price target of $5.60.

Wipro Stock Down 2.0 %

WIT opened at $3.50 on Thursday. Wipro has a fifty-two week low of $2.55 and a fifty-two week high of $3.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. The company has a market capitalization of $36.58 billion, a P/E ratio of 25.93, a P/E/G ratio of 4.92 and a beta of 0.91. The stock has a fifty day moving average of $5.71 and a 200-day moving average of $6.07.

Wipro (NYSE:WIT) last posted its earnings results on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. Wipro had a return on equity of 14.98% and a net margin of 13.23%. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.66 billion. On average, equities analysts expect that Wipro will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Frank Rimerman Advisors LLC bought a new position in Wipro in the second quarter valued at about $531,000. Segall Bryant & Hamill LLC bought a new stake in shares of Wipro during the third quarter worth about $610,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Wipro during the third quarter worth about $860,000. AQR Capital Management LLC grew its holdings in shares of Wipro by 12.9% during the second quarter. AQR Capital Management LLC now owns 694,610 shares of the information technology services provider’s stock worth $4,223,000 after purchasing an additional 79,431 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Wipro by 207.4% during the third quarter. Blue Trust Inc. now owns 183,008 shares of the information technology services provider’s stock worth $1,116,000 after purchasing an additional 123,478 shares during the last quarter. Institutional investors own 2.36% of the company’s stock.

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.