Wipro (WIT) – Research Analysts’ Recent Ratings Changes

A number of firms have modified their ratings and price targets on shares of Wipro (NYSE: WIT) recently:

  • 12/3/2019 – Wipro was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 11/27/2019 – Wipro was downgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “sell” rating.
  • 11/21/2019 – Wipro was downgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “sell” rating.
  • 11/21/2019 – Wipro was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $4.25 price target on the stock. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
  • 11/5/2019 – Wipro was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/25/2019 – Wipro was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/19/2019 – Wipro was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
  • 10/15/2019 – Wipro was upgraded by analysts at Credit Suisse Group AG from an “underperform” rating to a “neutral” rating.
  • 10/12/2019 – Wipro had its “hold” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
  • 10/5/2019 – Wipro was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “

NYSE:WIT traded down $0.02 during trading hours on Tuesday, reaching $3.62. The stock had a trading volume of 21,016 shares, compared to its average volume of 1,085,924. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.38 and a current ratio of 2.40. The stock has a 50 day simple moving average of $3.81 and a 200 day simple moving average of $4.00. Wipro Limited has a 12-month low of $3.51 and a 12-month high of $4.63. The stock has a market cap of $21.63 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.47.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Tuesday, October 15th. The information technology services provider reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Wipro had a return on equity of 17.79% and a net margin of 16.58%. On average, equities analysts expect that Wipro Limited will post 0.24 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC purchased a new stake in Wipro during the second quarter valued at about $50,000. Private Advisor Group LLC bought a new stake in Wipro during the 2nd quarter valued at $63,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Wipro by 22.7% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,694 shares of the information technology services provider’s stock valued at $81,000 after acquiring an additional 3,455 shares during the period. Royal Bank of Canada lifted its position in shares of Wipro by 18.0% during the second quarter. Royal Bank of Canada now owns 19,032 shares of the information technology services provider’s stock worth $82,000 after acquiring an additional 2,904 shares in the last quarter. Finally, Corient Capital Partners LLC lifted its position in shares of Wipro by 23.5% during the second quarter. Corient Capital Partners LLC now owns 22,326 shares of the information technology services provider’s stock worth $97,000 after acquiring an additional 4,246 shares in the last quarter. 2.14% of the stock is owned by institutional investors.

Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.

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