Wipro Limited (NYSE:WIT) Receives Consensus Rating of "Hold" from Analysts

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

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

Wipro Trading Up 2.0 %

Shares of NYSE WIT traded up $0.06 during mid-day trading on Thursday, hitting $2.85. The stock had a trading volume of 13,825,773 shares, compared to its average volume of 5,047,597. The business has a 50 day moving average price of $3.33 and a two-hundred day moving average price of $4.77. Wipro has a 1 year low of $2.55 and a 1 year high of $3.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market cap of $29.75 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, equities analysts anticipate that Wipro will post 0.14 EPS for the current fiscal year.

Institutional Trading of Wipro

Several institutional investors have recently modified their holdings of WIT. Summit Global Investments acquired a new position in shares of Wipro during the 1st quarter valued at about $948,000. GAMMA Investing LLC lifted its holdings in Wipro by 182.7% during the 1st quarter. GAMMA Investing LLC now owns 65,291 shares of the information technology services provider's stock worth $200,000 after buying an additional 42,192 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Wipro by 34.3% in the fourth quarter. Wellington Management Group LLP now owns 1,769,600 shares of the information technology services provider's stock valued at $6,264,000 after purchasing an additional 451,820 shares during the period. Public Employees Retirement System of Ohio grew its stake in Wipro by 163.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 283,234 shares of the information technology services provider's stock worth $1,003,000 after purchasing an additional 175,833 shares in the last quarter. Finally, BIP Alliance LLC acquired a new stake in Wipro in the 4th quarter valued at about $170,000. 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.