Wipro Limited (NYSE:WIT) Receives Consensus Recommendation of “Hold” from Analysts

Wipro Limited (NYSE:WIT) has received an average rating of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company.

A number of equities research analysts have recently commented on WIT shares. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th.

Wipro Price Performance

Shares of WIT opened at $3.68 on Wednesday. The stock has a market cap of $38.43 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.13 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The firm’s 50-day simple moving average is $4.02 and its two-hundred day simple moving average is $5.59.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Analysts anticipate that Wipro will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WIT. Ridgewood Investments LLC raised its position in Wipro by 100.0% in the fourth 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. Bell Investment Advisors Inc raised its position in Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 3,631 shares during the period. Sierra Ocean LLC bought a new position in Wipro in the fourth quarter worth approximately $29,000. Farther Finance Advisors LLC raised its position in shares of Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 4,851 shares during the period. Finally, Freestone Capital Holdings LLC bought a new stake in shares of Wipro during the 4th quarter valued at $36,000. 2.36% of the stock is currently owned by institutional investors.

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.