According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
A number of other research firms also recently issued reports on WIT. CLSA upgraded shares of Wipro from an “underperform” rating to an “outperform” rating in a research report on Monday, February 21st. Macquarie began coverage on Wipro in a research note on Monday. They issued a “neutral” rating on the stock. Jefferies Financial Group upgraded shares of Wipro from an “underperform” rating to a “hold” rating and dropped their price target for the stock from $8.55 to $7.70 in a research note on Friday, February 4th. Finally, StockNews.com assumed coverage on Wipro in a report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.31.
Wipro (NYSE:WIT – Get Rating) last issued its earnings results on Tuesday, January 11th. The information technology services provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.70 billion. Wipro had a net margin of 16.25% and a return on equity of 19.98%. During the same quarter in the prior year, the company earned $0.07 EPS. On average, sell-side analysts predict that Wipro will post 0.29 EPS for the current year.
Several institutional investors have recently bought and sold shares of WIT. Liberty Wealth Management LLC raised its stake in Wipro by 489.0% during the third quarter. Liberty Wealth Management LLC now owns 2,727 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 2,264 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in Wipro during the 4th quarter valued at about $29,000. CWM LLC acquired a new stake in shares of Wipro during the fourth quarter worth approximately $35,000. Glassman Wealth Services raised its stake in shares of Wipro by 66.9% in the fourth quarter. Glassman Wealth Services now owns 3,585 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 1,437 shares during the last quarter. Finally, Atticus Wealth Management LLC acquired a new position in shares of Wipro in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 2.30% of the company’s stock.
About Wipro (Get Rating)
Wipro Limited operates as information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure, analytics, business process, research and development, and hardware and software design services to enterprises.
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