Wipro Limited (NYSE:WIT) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Wipro Limited (NYSE:WIT - Get Free Report) have earned an average recommendation of "Hold" from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company.

Several brokerages have recently weighed in on WIT. UBS Group upgraded Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Jefferies Financial Group lowered Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Finally, StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a report on Saturday.

Wipro Trading Down 0.4 %

Shares of Wipro stock opened at $2.84 on Monday. The firm has a market cap of $29.70 billion, a PE ratio of 19.59, a P/E/G ratio of 3.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro has a 1 year low of $2.55 and a 1 year high of $3.79. The stock has a fifty day moving average price of $3.06 and a 200-day moving average price of $4.37.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities research analysts anticipate that Wipro will post 0.14 EPS for the current year.

Institutional Trading of Wipro

A number of large investors have recently modified their holdings of WIT. Vanguard Group Inc. lifted its position in Wipro by 92.0% during the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock valued at $82,692,000 after purchasing an additional 11,196,013 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Wipro by 177.6% during the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider's stock worth $34,280,000 after acquiring an additional 6,195,561 shares during the last quarter. Marshall Wace LLP bought a new position in Wipro in the fourth quarter valued at $20,008,000. BNP Paribas Financial Markets raised its holdings in shares of Wipro by 36.4% during the 4th quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider's stock valued at $55,925,000 after buying an additional 4,215,981 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Wipro by 97.9% during the fourth quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider's stock worth $26,636,000 after acquiring an additional 3,722,115 shares in the last quarter. Institutional investors own 2.36% of the company's stock.

Wipro Company Profile

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.

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