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

Wipro Limited (NYSE:WIT) has earned a consensus recommendation of “Hold” from the six research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company.

Several equities analysts have weighed in on the company. Wall Street Zen raised Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th.

Wipro Trading Up 2.2%

Shares of WIT opened at $3.04 on Tuesday. Wipro has a 52-week low of $2.63 and a 52-week high of $3.79. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average is $2.88 and its two-hundred day moving average is $3.41. The stock has a market cap of $31.75 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 3.08 and a beta of 1.02.

Wipro (NYSE:WIT) last announced its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $225.66 billion. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Research analysts forecast that Wipro will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Wipro

Several large investors have recently bought and sold shares of the company. HighTower Advisors LLC boosted its stake in shares of Wipro by 292.0% during the fourth quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider’s stock valued at $221,000 after acquiring an additional 46,432 shares during the last quarter. Barclays PLC purchased a new stake in shares of Wipro during the 4th quarter valued at about $461,000. Northern Trust Corp raised its holdings in shares of Wipro by 172.8% during the 4th quarter. Northern Trust Corp now owns 2,679,066 shares of the information technology services provider’s stock valued at $9,484,000 after buying an additional 1,697,118 shares during the period. Legal & General Group Plc raised its holdings in shares of Wipro by 100.0% during the 4th quarter. Legal & General Group Plc now owns 106,088 shares of the information technology services provider’s stock valued at $375,000 after buying an additional 53,044 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Wipro by 89.8% during the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider’s stock valued at $1,235,000 after buying an additional 165,076 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

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.