Wipro Limited (NYSE:WIT) Receives Average Rating of “Hold” from Analysts

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

WIT has been the topic of several research reports. Wall Street Zen raised Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Jefferies Financial Group lowered shares of Wipro from a “hold” rating to an “underperform” rating in a report on Tuesday, April 8th.

Institutional Investors Weigh In On Wipro

A number of hedge funds have recently added to or reduced their stakes in WIT. Modern Wealth Management LLC purchased a new stake in shares of Wipro in the 1st quarter worth $612,000. Acadian Asset Management LLC boosted its holdings in shares of Wipro by 44.4% during the 1st quarter. Acadian Asset Management LLC now owns 20,977,514 shares of the information technology services provider’s stock valued at $64,171,000 after purchasing an additional 6,447,184 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Wipro by 184.9% during the 1st quarter. Jane Street Group LLC now owns 224,438 shares of the information technology services provider’s stock valued at $687,000 after purchasing an additional 145,658 shares during the last quarter. Ascent Group LLC bought a new position in shares of Wipro in the 1st quarter valued at about $151,000. Finally, Hamilton Capital LLC bought a new position in shares of Wipro in the 1st quarter valued at about $32,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Stock Performance

Wipro stock opened at $3.00 on Tuesday. The stock’s 50 day simple moving average is $2.89 and its two-hundred day simple moving average is $3.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.72. The stock has a market cap of $31.33 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 8.59 and a beta of 1.02. Wipro has a fifty-two week low of $2.63 and a fifty-two week high of $3.79.

Wipro (NYSE:WIT) last posted its quarterly earnings data 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. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $225.66 billion. Wipro had a return on equity of 15.97% and a net margin of 14.73%. As a group, analysts expect that Wipro will post 0.14 earnings per share for the current fiscal 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.