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

Shares of Wipro Limited (NYSE:WIT) have received an average recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company.

Several equities research analysts have issued reports on WIT shares. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. Jefferies Financial Group cut shares of Wipro from a “hold” rating to an “underperform” rating in a report on Tuesday. Finally, UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd.

Wipro Trading Up 4.0 %

Shares of WIT stock opened at $2.89 on Thursday. The firm has a 50 day moving average price of $3.27 and a two-hundred day moving average price of $4.69. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $30.22 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. Wipro has a 12-month low of $2.55 and a 12-month high of $3.79.

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, analysts predict that Wipro will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Glenmede Trust Co. NA increased its holdings in shares of Wipro by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock worth $242,000 after purchasing an additional 1,746 shares during the period. Franklin Resources Inc. increased its stake in Wipro by 9.1% in the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock valued at $233,000 after acquiring an additional 2,951 shares during the last quarter. Ridgewood Investments LLC increased its stake 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 acquiring an additional 3,557 shares during the last quarter. Bell Investment Advisors Inc increased its stake 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. Finally, Farther Finance Advisors LLC increased its stake 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 acquiring an additional 4,851 shares during the last quarter. 2.36% of the stock is owned by institutional investors.

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.