Shares of Wipro Limited (NYSE:WIT) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $141.50.

A number of brokerages have commented on WIT. Zacks Investment Research raised shares of Wipro from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Friday, October 20th. Goldman Sachs Group downgraded shares of Wipro from a “neutral” rating to a “sell” rating in a research report on Sunday, September 17th. BNP Paribas downgraded shares of Wipro from a “hold” rating to a “reduce” rating in a research report on Thursday, September 14th. Finally, BidaskClub downgraded shares of Wipro from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 24th.

Shares of Wipro (NYSE WIT) opened at $5.16 on Thursday. Wipro has a 52-week low of $4.50 and a 52-week high of $6.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.53 and a quick ratio of 2.52. The company has a market cap of $24,892.41, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Wipro had a net margin of 15.77% and a return on equity of 16.14%. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.17 billion. equities research analysts anticipate that Wipro will post 0.25 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of WIT. US Bancorp DE grew its position in shares of Wipro by 261.7% in the 2nd quarter. US Bancorp DE now owns 62,806 shares of the information technology services provider’s stock valued at $327,000 after buying an additional 45,442 shares during the last quarter. Shell Asset Management Co. purchased a new position in shares of Wipro in the 2nd quarter valued at $805,000. State of New Jersey Common Pension Fund D grew its position in shares of Wipro by 359.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 337,200 shares of the information technology services provider’s stock valued at $1,753,000 after buying an additional 263,800 shares during the last quarter. Wetherby Asset Management Inc. grew its position in shares of Wipro by 116.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 117,847 shares of the information technology services provider’s stock valued at $613,000 after buying an additional 63,397 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Wipro by 175.0% in the 2nd quarter. First Trust Advisors LP now owns 4,396,755 shares of the information technology services provider’s stock valued at $22,863,000 after buying an additional 2,798,198 shares during the last quarter. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

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About Wipro

Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.

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