Wipro Limited (NYSE:WIT) Given Average Recommendation of “Strong Sell” by Brokerages

Wipro Limited (NYSE:WIT) has received an average recommendation of “Strong Sell” from the four brokerages that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.05.

Several equities research analysts have recently commented on WIT shares. Wedbush lifted their target price on Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research note on Tuesday, January 16th. TheStreet upgraded Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. StockNews.com lowered Wipro from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, BNP Paribas assumed coverage on Wipro in a report on Wednesday, January 17th. They set an “underperform” rating and a $5.20 target price on the stock.

Wipro Trading Down 0.8 %

WIT stock opened at $5.47 on Thursday. The business has a fifty day moving average price of $5.88 and a 200 day moving average price of $5.41. Wipro has a fifty-two week low of $4.47 and a fifty-two week high of $6.45. The stock has a market capitalization of $28.51 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 2.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28.

Institutional Trading of Wipro

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Wipro by 4.6% in the third quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock valued at $60,368,000 after acquiring an additional 553,433 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Wipro by 50.1% in the third quarter. Acadian Asset Management LLC now owns 6,786,259 shares of the information technology services provider’s stock valued at $32,837,000 after acquiring an additional 2,265,859 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Wipro by 112.7% in the fourth 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 last quarter. Fisher Asset Management LLC increased its position in shares of Wipro by 3.8% in the fourth quarter. Fisher Asset Management LLC now owns 2,313,160 shares of the information technology services provider’s stock valued at $12,884,000 after acquiring an additional 84,519 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Wipro by 4.7% in the third quarter. Rhumbline Advisers now owns 1,930,460 shares of the information technology services provider’s stock valued at $9,343,000 after acquiring an additional 86,226 shares during the last quarter. 2.36% of the stock is currently 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 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.