Wipro Limited (NYSE:WIT - Get Free Report) has been given an average recommendation of "Hold" by the five analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $5.60.
Several brokerages have recently weighed in on WIT. Investec lowered shares of Wipro from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. StockNews.com cut Wipro from a "buy" rating to a "hold" rating in a report on Tuesday.
Get Our Latest Stock Analysis on WIT
Hedge Funds Weigh In On Wipro
Several large investors have recently bought and sold shares of WIT. GAMMA Investing LLC raised its stake in shares of Wipro by 37.8% during the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider's stock worth $57,000 after purchasing an additional 2,426 shares during the period. Mayflower Financial Advisors LLC purchased a new position in Wipro in the second quarter valued at about $64,000. Abacus Wealth Partners LLC bought a new position in shares of Wipro during the 3rd quarter valued at approximately $71,000. Werba Rubin Papier Wealth Management purchased a new position in Wipro in the third quarter valued at approximately $71,000. Finally, Catalytic Wealth RIA LLC bought a new position in Wipro during the third quarter valued at $81,000. 2.36% of the stock is currently owned by institutional investors.
Wipro Price Performance
Shares of NYSE:WIT traded down $0.04 during trading on Friday, hitting $6.99. 1,642,745 shares of the company were exchanged, compared to its average volume of 2,518,912. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. Wipro has a 1-year low of $4.78 and a 1-year high of $7.12. The company has a market capitalization of $36.53 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 4.75 and a beta of 0.89. The business's 50 day moving average is $6.63 and its 200-day moving average is $6.20.
Wipro's stock is set to split on the morning of Wednesday, December 11th. The 2-1 split was announced on Tuesday, October 22nd. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, December 10th.
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, meeting analysts' consensus estimates of $0.07. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.66 billion. Wipro had a net margin of 13.23% and a return on equity of 14.98%. Equities analysts forecast that Wipro will post 0.27 earnings per share for the current year.
Wipro Company Profile
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Get Free ReportWipro 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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