Wipro Limited (NYSE:WIT) Given Average Rating of “Hold” by Analysts

Shares of Wipro Limited (NYSE:WIT) have received a consensus recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company.

A number of research analysts recently commented on the stock. HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. UBS Group upgraded Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. StockNews.com downgraded Wipro from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Investec lowered shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd.

Hedge Funds Weigh In On Wipro

Several hedge funds have recently bought and sold shares of WIT. Ridgewood Investments LLC lifted its holdings in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 3,557 shares during the period. GAMMA Investing LLC increased its position in Wipro by 37.8% during the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after purchasing an additional 2,426 shares in the last quarter. Abacus Wealth Partners LLC bought a new position in Wipro in the 3rd quarter valued at approximately $71,000. Werba Rubin Papier Wealth Management acquired a new stake in Wipro in the third quarter valued at approximately $71,000. Finally, Fulton Bank N.A. acquired a new position in shares of Wipro during the fourth quarter worth $44,000. 2.36% of the stock is owned by institutional investors.

Wipro Stock Up 4.1 %

WIT stock opened at $3.44 on Friday. Wipro has a 1-year low of $2.55 and a 1-year high of $3.75. The business’s 50 day simple moving average is $5.13 and its 200 day simple moving average is $5.92. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $35.90 billion, a PE ratio of 25.44, a PEG ratio of 4.55 and a beta of 0.91.

Wipro (NYSE:WIT) last released its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.66 billion. Wipro had a net margin of 13.23% and a return on equity of 14.98%. As a group, research analysts anticipate that Wipro will post 0.14 EPS for the current year.

About Wipro

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.