Brokerages Set Wipro Limited (NYSE:WIT) Price Target at $5.60

Wipro Limited (NYSE:WIT - Get Free Report) has received a consensus rating of "Hold" from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.60.

Several equities research analysts recently weighed in on the stock. HSBC raised shares of Wipro from a "reduce" rating to a "hold" rating in a research report on Monday, December 9th. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research report on Thursday, December 12th. Finally, Investec downgraded shares of Wipro from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd.

Wipro Stock Performance

Shares of WIT traded up $0.01 during mid-day trading on Tuesday, hitting $3.63. 1,337,441 shares of the company's stock were exchanged, compared to its average volume of 5,017,020. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The firm has a market cap of $37.94 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 4.92 and a beta of 0.92. The stock's 50-day simple moving average is $6.24 and its 200-day simple moving average is $6.21. Wipro has a 52 week low of $2.55 and a 52 week high of $3.75.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $2.66 billion during the quarter, compared to analysts' expectations of $2.66 billion. Wipro had a return on equity of 14.98% and a net margin of 13.23%. On average, equities research analysts expect that Wipro will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Wipro

Hedge funds have recently modified their holdings of the company. DGS Capital Management LLC boosted its position in Wipro by 4.5% during the 3rd quarter. DGS Capital Management LLC now owns 195,441 shares of the information technology services provider's stock worth $1,266,000 after buying an additional 8,360 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Wipro by 9.1% during the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider's stock worth $233,000 after purchasing an additional 2,951 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Wipro in the third quarter worth $696,000. XTX Topco Ltd acquired a new stake in Wipro in the third quarter valued at $347,000. Finally, State Street Corp raised its position in Wipro by 0.8% during the 3rd quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider's stock worth $70,157,000 after purchasing an additional 87,682 shares during the last quarter. Institutional investors and hedge funds 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.