Wipro Limited (NYSE:WIT - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $3.00, but opened at $3.09. Wipro shares last traded at $3.10, with a volume of 149,499 shares trading hands.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on WIT shares. HSBC raised shares of Wipro from a "reduce" rating to a "hold" rating in a research note on Monday, December 9th. StockNews.com raised shares of Wipro from a "hold" rating to a "buy" rating in a research note on Monday, January 20th. Finally, UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".
Get Our Latest Research Report on Wipro
Wipro Stock Up 1.5 %
The business has a fifty day simple moving average of $3.44 and a two-hundred day simple moving average of $5.02. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07. The company has a market cap of $31.84 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.
Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. As a group, equities research analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Perigon Wealth Management LLC purchased a new position in shares of Wipro during the 4th quarter worth $61,000. Tobam purchased a new position in shares of Wipro during the 4th quarter worth $261,000. Van ECK Associates Corp raised its holdings in shares of Wipro by 89.8% during the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider's stock worth $1,235,000 after acquiring an additional 165,076 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Wipro by 93.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider's stock worth $307,000 after acquiring an additional 41,766 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Wipro during the 3rd quarter worth $610,000. Hedge funds and other institutional investors own 2.36% of the company's stock.
Wipro Company Profile
(
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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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