Wipro Limited (NYSE:WIT) Receives Average Rating of “Strong Sell” from Brokerages

Wipro Limited (NYSE:WIT) has earned a consensus recommendation of “Strong Sell” from the four brokerages that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $5.05.

A number of research analysts have recently weighed in on the stock. Wedbush increased their target price on shares of Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research report on Tuesday, January 16th. TheStreet raised shares of Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. BNP Paribas started coverage on shares of Wipro in a report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price objective for the company. Finally, StockNews.com downgraded shares of Wipro from a “buy” rating to a “hold” rating in a report on Wednesday.

Wipro Stock Down 0.8 %

Wipro stock opened at $5.47 on Thursday. Wipro has a twelve month low of $4.47 and a twelve month high of $6.45. The firm has a 50 day moving average price of $5.88 and a 200-day moving average price of $5.41. The company has a market capitalization of $28.51 billion, a P/E ratio of 21.86, a P/E/G ratio of 2.19 and a beta of 0.87. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09.

Institutional Trading of Wipro

Several institutional investors and hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC purchased a new stake in Wipro in the 1st quarter worth approximately $91,000. BSW Wealth Partners raised its position in shares of Wipro by 7.4% during the 1st quarter. BSW Wealth Partners now owns 85,839 shares of the information technology services provider’s stock valued at $494,000 after buying an additional 5,908 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Wipro by 8.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 227,969 shares of the information technology services provider’s stock valued at $1,311,000 after buying an additional 18,374 shares in the last quarter. Janiczek Wealth Management LLC raised its position in shares of Wipro by 9.7% during the 1st quarter. Janiczek Wealth Management LLC now owns 115,949 shares of the information technology services provider’s stock valued at $667,000 after buying an additional 10,242 shares in the last quarter. Finally, DGS Capital Management LLC raised its position in shares of Wipro by 10.1% during the 1st quarter. DGS Capital Management LLC now owns 154,646 shares of the information technology services provider’s stock valued at $889,000 after buying an additional 14,155 shares in the last quarter. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.