Wipro Limited (NYSE:WIT) Receives Average Recommendation of “Hold” from Brokerages

Wipro Limited (NYSE:WIT) has been assigned an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company.

A number of analysts recently weighed in on WIT shares. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th.

Hedge Funds Weigh In On Wipro

Several hedge funds and other institutional investors have recently bought and sold shares of WIT. Ridgewood Investments LLC raised its holdings in Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 3,557 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 3,631 shares during the last quarter. Sierra Ocean LLC acquired a new position in Wipro during the fourth quarter worth $29,000. Farther Finance Advisors LLC raised its holdings in Wipro by 148.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 4,851 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Wipro during the fourth quarter worth $35,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Trading Down 0.3 %

Shares of WIT stock opened at $2.86 on Monday. The business’s 50 day moving average is $3.01 and its two-hundred day moving average is $4.32. Wipro has a twelve month low of $2.55 and a twelve month high of $3.79. The company has a market capitalization of $29.91 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07.

Wipro (NYSE:WIT) last announced its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. Equities analysts forecast that Wipro will post 0.14 EPS for the current year.

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.