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

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

A number of brokerages have recently issued reports on WIT. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th.

Wipro Stock Down 4.1 %

Wipro stock opened at $2.80 on Thursday. Wipro has a 12 month low of $2.55 and a 12 month high of $3.79. The stock has a market capitalization of $29.28 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The business has a 50 day simple moving average of $3.35 and a 200-day simple moving average of $4.80.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, analysts anticipate that Wipro will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC raised its stake in Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 3,557 shares during the period. Bell Investment Advisors Inc lifted its holdings in Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 3,631 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Wipro during the fourth quarter worth $29,000. Farther Finance Advisors LLC raised its position in Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 4,851 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Wipro in the 4th quarter valued at $35,000. Hedge funds and other 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.