Wipro (NYSE:WIT) Hits New 1-Year High - Should You Buy?

Wipro Limited (NYSE:WIT - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $3.75 and last traded at $3.75, with a volume of 844501 shares trading hands. The stock had previously closed at $3.66.

Wall Street Analyst Weigh In

Several research firms have commented on WIT. HSBC upgraded Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th. UBS Group upgraded shares of Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a report on Monday. Finally, Investec lowered shares of Wipro from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wipro presently has an average rating of "Moderate Buy".

Wipro Trading Up 2.0 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. The stock has a market capitalization of $39.03 billion, a PE ratio of 25.76, a P/E/G ratio of 2.98 and a beta of 0.91. The company has a 50 day moving average of $4.86 and a two-hundred day moving average of $5.84.

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 15.71%. Sell-side analysts predict that Wipro Limited will post 0.14 EPS for the current year.

Institutional Trading of Wipro

A number of hedge funds and other institutional investors have recently made changes to their positions in WIT. Ridgewood Investments LLC boosted its stake in shares of Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 3,557 shares during the period. BOCHK Asset Management Ltd purchased a new stake in shares of Wipro during the fourth quarter worth $42,000. PFG Investments LLC acquired a new stake in shares of Wipro in the fourth quarter valued at $43,000. Fulton Bank N.A. acquired a new position in Wipro during the 4th quarter worth $44,000. Finally, Fragasso Financial Advisors Inc acquired a new stake in Wipro in the 4th quarter valued at about $47,000. Institutional investors and hedge funds 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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