Wipro (NYSE:WIT) Downgraded to “Underperform” Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of Wipro (NYSE:WIT) from a hold rating to an underperform rating in a research report released on Tuesday, Marketbeat.com reports.

Several other equities analysts have also recently issued reports on the stock. UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Finally, HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Wipro Stock Performance

Shares of WIT opened at $2.77 on Tuesday. The company’s 50 day simple moving average is $3.30 and its 200-day simple moving average is $4.73. Wipro has a 12-month low of $2.55 and a 12-month high of $3.79. The firm has a market cap of $28.91 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07.

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

Institutional Trading of Wipro

Institutional investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC increased its holdings in Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc increased its stake in Wipro by 100.0% in the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 3,631 shares in the last quarter. Sierra Ocean LLC acquired a new position in Wipro during the fourth quarter worth $29,000. Farther Finance Advisors LLC boosted its position in Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 4,851 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Wipro in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

About Wipro

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.