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

Wipro Limited (NYSE:WIT - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company.

Several analysts recently weighed in on WIT shares. Investec downgraded Wipro from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. UBS Group upgraded Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. StockNews.com downgraded Wipro from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, HSBC upgraded Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th.

Hedge Funds Weigh In On Wipro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA grew its stake in Wipro by 4.9% in the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider's stock valued at $242,000 after purchasing an additional 1,746 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 acquiring an additional 2,104 shares during the last quarter. BSW Wealth Partners grew its stake in shares of Wipro by 2.8% during the third quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider's stock worth $573,000 after acquiring an additional 2,418 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Wipro by 37.8% during the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider's stock worth $57,000 after acquiring an additional 2,426 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Wipro by 21.7% during the second quarter. Xponance Inc. now owns 15,866 shares of the information technology services provider's stock worth $97,000 after acquiring an additional 2,832 shares during the last quarter. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wipro Trading Up 4.1 %

Shares of NYSE:WIT traded up $0.14 on Friday, hitting $3.44. 7,783,365 shares of the company's stock were exchanged, compared to its average volume of 2,860,407. Wipro has a 12 month low of $2.55 and a 12 month high of $3.75. The stock has a market capitalization of $35.90 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 4.55 and a beta of 0.91. The business's 50 day simple moving average is $5.07 and its two-hundred day simple moving average is $5.90. 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 - Get Free Report) last released its earnings results on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. Wipro had a return on equity of 14.98% and a net margin of 13.23%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.66 billion. Analysts anticipate that Wipro will post 0.14 EPS for the current fiscal year.

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.