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

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

Several analysts have weighed in on the company. HSBC upgraded Wipro from a "reduce" rating to a "hold" rating in a research note on Monday, December 9th. UBS Group upgraded Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Finally, StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research report on Monday, January 20th.

Wipro Stock Performance

WIT stock traded down $0.03 during trading on Friday, reaching $3.16. The company had a trading volume of 390,042 shares, compared to its average volume of 4,931,492. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro has a twelve month low of $2.55 and a twelve month high of $3.79. The company has a market cap of $32.99 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. The firm has a 50-day simple moving average of $3.53 and a 200-day simple moving average of $5.23.

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Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 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, sell-side analysts expect that Wipro will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Wipro

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC raised its position in Wipro by 100.0% during 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 in the last quarter. Bell Investment Advisors Inc increased its holdings in shares of Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 3,631 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Wipro in the 4th quarter valued at $29,000. Farther Finance Advisors LLC boosted its holdings in Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock worth $29,000 after buying an additional 4,851 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Wipro during the fourth quarter valued at $35,000. 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.