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

Shares of Wipro Limited (NYSE:WIT) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company.

WIT has been the subject of a number of research reports. UBS Group raised Wipro from a “sell” rating to a “neutral” rating in a research note on Thursday, January 2nd. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th.

Wipro Stock Performance

Shares of NYSE WIT opened at $3.28 on Friday. The stock has a fifty day moving average price of $3.53 and a two-hundred day moving average price of $5.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market cap of $34.25 billion, a P/E ratio of 22.59, a PEG ratio of 3.08 and a beta of 0.94. Wipro has a 1 year low of $2.55 and a 1 year high of $3.79.

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

Institutional Investors Weigh In On Wipro

Several large investors have recently modified their holdings of WIT. Ridgewood Investments LLC lifted its holdings in shares of Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of 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 valued at $26,000 after purchasing an additional 3,631 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Wipro in the fourth quarter valued at $29,000. Farther Finance Advisors LLC lifted its holdings in shares of Wipro by 148.3% in the fourth 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 in the last quarter. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in shares of Wipro in the fourth quarter valued at $35,000. 2.36% of the stock is 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.