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

Wipro logo with Computer and Technology background

Wipro Limited (NYSE:WIT - Get Free Report) has earned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $5.60.

Several equities research analysts have recently commented on the stock. Investec lowered shares of Wipro from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th.

View Our Latest Research Report on Wipro

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WIT. QRG Capital Management Inc. increased its position in shares of Wipro by 6.9% during the second quarter. QRG Capital Management Inc. now owns 25,836 shares of the information technology services provider's stock worth $158,000 after purchasing an additional 1,665 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Wipro by 13.6% in the second quarter. Dynamic Advisor Solutions LLC now owns 14,091 shares of the information technology services provider's stock valued at $86,000 after purchasing an additional 1,692 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in Wipro by 2.7% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 78,573 shares of the information technology services provider's stock valued at $452,000 after buying an additional 2,101 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Wipro by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 14,686 shares of the information technology services provider's stock worth $90,000 after purchasing an additional 2,104 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Wipro by 11.8% during the 2nd quarter. CWM LLC now owns 20,621 shares of the information technology services provider's stock worth $126,000 after buying an additional 2,178 shares during the last quarter. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Trading Down 1.1 %

Shares of WIT stock traded down $0.07 during trading hours on Monday, reaching $6.43. 872,580 shares of the stock were exchanged, compared to its average volume of 2,477,834. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The company's 50-day moving average price is $6.45 and its 200-day moving average price is $6.02. Wipro has a 12-month low of $4.49 and a 12-month high of $7.01. The firm has a market capitalization of $33.59 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 4.38 and a beta of 0.89.

About Wipro

(Get Free Report

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.

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