Wipro Limited (NYSE:WIT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Wipro Limited (NYSE:WIT) have been given an average recommendation of “Hold” by the five analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company.

Several research firms have issued reports on WIT. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, Investec downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd.

Hedge Funds Weigh In On Wipro

Hedge funds have recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC purchased a new stake in Wipro in the 2nd quarter valued at about $531,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Wipro in the third quarter worth $610,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Wipro in the third quarter worth $860,000. Ritholtz Wealth Management increased its holdings in Wipro by 127.9% in the fourth quarter. Ritholtz Wealth Management now owns 259,503 shares of the information technology services provider’s stock valued at $919,000 after buying an additional 145,629 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Wipro by 12.9% in the second quarter. AQR Capital Management LLC now owns 694,610 shares of the information technology services provider’s stock valued at $4,223,000 after buying an additional 79,431 shares in the last quarter. 2.36% of the stock is currently owned by institutional investors.

Wipro Stock Performance

Shares of Wipro stock opened at $3.66 on Friday. Wipro has a one year low of $2.55 and a one year high of $3.75. The firm has a market capitalization of $38.20 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.91 and a beta of 0.91. The business has a 50-day simple moving average of $4.93 and a 200 day simple moving average of $5.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.69 and a quick ratio of 2.69.

Wipro (NYSE:WIT) last announced its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.71% and a net margin of 13.96%. On average, research analysts anticipate that Wipro will post 0.14 earnings per share 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.