Wipro (NYSE:WIT) Downgraded to "Underperform" Rating by Jefferies Financial Group

Wipro (NYSE:WIT - Get Free Report) was downgraded by analysts at Jefferies Financial Group from a "hold" rating to an "underperform" rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

WIT has been the subject of a number of other reports. UBS Group upgraded 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 research note on Monday, January 20th. Finally, HSBC raised shares of Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Wipro Stock Down 0.2 %

Shares of WIT traded down $0.01 during trading hours on Tuesday, reaching $2.84. The company's stock had a trading volume of 7,922,255 shares, compared to its average volume of 5,059,715. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm has a market cap of $29.65 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 3.08 and a beta of 0.96. The company has a 50 day moving average of $3.23 and a two-hundred day moving average of $4.64. Wipro has a 1-year low of $2.55 and a 1-year high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting 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, research analysts predict that Wipro will post 0.14 EPS for the current fiscal year.

Institutional Trading of Wipro

Institutional investors have recently modified their holdings of the company. Perigon Wealth Management LLC bought a new stake in Wipro in the 4th quarter valued at $61,000. HighTower Advisors LLC grew its stake in Wipro by 292.0% during the fourth quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider's stock worth $221,000 after buying an additional 46,432 shares in the last quarter. Tobam acquired a new position in Wipro during the 4th quarter worth approximately $261,000. Van ECK Associates Corp grew its position in 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Wipro by 93.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider's stock valued at $307,000 after buying an additional 41,766 shares during the period. 2.36% of the stock is currently owned by institutional investors.

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.