Wipro Limited (NYSE:WIT) Receives $5.30 Consensus PT from Brokerages

Shares of Wipro Limited (NYSE:WITGet Free Report) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $5.30.

A number of research firms have recently weighed in on WIT. Nomura Securities raised Wipro to a “strong-buy” rating in a research report on Tuesday. Nomura initiated coverage on Wipro in a research note on Tuesday. They issued a “buy” rating for the company. Finally, StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research note on Friday, May 24th.

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Wipro Stock Performance

Shares of Wipro stock opened at $6.38 on Tuesday. The business’s fifty day simple moving average is $5.56 and its 200-day simple moving average is $5.70. The company has a quick ratio of 2.57, a current ratio of 2.58 and a debt-to-equity ratio of 0.08. The firm has a market cap of $33.30 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 4.42 and a beta of 0.90. Wipro has a 52 week low of $4.48 and a 52 week high of $6.45.

Wipro (NYSE:WITGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The information technology services provider reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Wipro had a net margin of 12.29% and a return on equity of 15.60%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. Equities analysts forecast that Wipro will post 0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Wipro by 44.0% during the 4th quarter. Wellington Management Group LLP now owns 1,866,359 shares of the information technology services provider’s stock worth $10,396,000 after purchasing an additional 570,001 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Wipro by 112.7% during the 4th quarter. BNP Paribas Financial Markets now owns 3,722,483 shares of the information technology services provider’s stock valued at $20,734,000 after acquiring an additional 1,972,425 shares during the period. Deutsche Bank AG boosted its stake in shares of Wipro by 25.8% during the 3rd quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock worth $9,238,000 after acquiring an additional 390,947 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Wipro by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock worth $60,368,000 after acquiring an additional 553,433 shares during the period. Finally, Blue Trust Inc. increased its stake in Wipro by 63.1% in the 4th quarter. Blue Trust Inc. now owns 22,312 shares of the information technology services provider’s stock valued at $124,000 after purchasing an additional 8,634 shares in the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

About Wipro

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Wipro Limited operates as an 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 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.

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Analyst Recommendations for Wipro (NYSE:WIT)

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