Wipro (NYSE:WIT) Earns Hold (C) Rating from Weiss Ratings

Wipro (NYSE:WIT)‘s stock had its “hold (c)” rating reaffirmed by research analysts at Weiss Ratings in a research report issued on Thursday,Weiss Ratings reports.

Separately, CLSA lowered Wipro from an “outperform” rating to a “hold” rating in a research note on Monday, October 20th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

Wipro Price Performance

Wipro stock opened at $2.64 on Thursday. The stock has a fifty day moving average price of $2.72 and a two-hundred day moving average price of $2.83. Wipro has a 52-week low of $2.58 and a 52-week high of $3.79. The firm has a market capitalization of $27.59 billion, a P/E ratio of 17.57, a P/E/G ratio of 16.16 and a beta of 1.00.

Wipro (NYSE:WIT) last released its quarterly earnings data on Thursday, October 16th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Wipro had a return on equity of 15.80% and a net margin of 15.06%.The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $224.40 billion. On average, equities research analysts predict that Wipro will post 0.14 EPS for the current fiscal year.

Institutional Trading of Wipro

A number of hedge funds and other institutional investors have recently made changes to their positions in WIT. Walkner Condon Financial Advisors LLC bought a new position in Wipro in the third quarter valued at about $27,000. Vest Financial LLC bought a new position in Wipro in the second quarter valued at about $31,000. Curi Capital LLC bought a new position in Wipro in the second quarter valued at about $31,000. Hamilton Capital LLC bought a new position in Wipro in the first quarter valued at about $32,000. Finally, Atlas Legacy Advisors LLC bought a new position in Wipro in the third quarter valued at about $37,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

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.