Wipro Limited (NYSE:WIT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Wipro Limited (NYSE:WITGet Rating) have earned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $6.97.

WIT has been the topic of a number of recent analyst reports. Macquarie started coverage on Wipro in a report on Monday, April 11th. They set a “neutral” rating on the stock. StockNews.com started coverage on shares of Wipro in a research note on Thursday, March 31st. They set a “hold” rating on the stock. CLSA upgraded shares of Wipro from an “underperform” rating to an “outperform” rating in a research note on Monday, February 21st. Zacks Investment Research lowered shares of Wipro from a “hold” rating to a “sell” rating in a research note on Friday, April 15th. Finally, Jefferies Financial Group upgraded shares of Wipro from an “underperform” rating to a “hold” rating and lowered their price objective for the company from $8.55 to $7.70 in a research note on Friday, February 4th.

Institutional investors have recently bought and sold shares of the business. Liberty Wealth Management LLC grew its position in Wipro by 489.0% in the third quarter. Liberty Wealth Management LLC now owns 2,727 shares of the information technology services provider’s stock worth $25,000 after buying an additional 2,264 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in Wipro in the 4th quarter worth approximately $29,000. Glassman Wealth Services boosted its stake in Wipro by 66.9% in the 4th quarter. Glassman Wealth Services now owns 3,585 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 1,437 shares during the period. CWM LLC acquired a new position in Wipro in the 4th quarter worth approximately $35,000. Finally, Atticus Wealth Management LLC acquired a new position in Wipro in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 2.30% of the company’s stock.

WIT opened at $6.86 on Tuesday. The business’s 50 day moving average is $7.49 and its 200-day moving average is $8.32. The stock has a market cap of $37.49 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.08. Wipro has a twelve month low of $6.68 and a twelve month high of $9.96.

The firm also recently declared a dividend, which was paid on Wednesday, April 6th. Shareholders of record on Wednesday, April 6th were given a $0.059 dividend. This is a positive change from Wipro’s previous dividend of $0.02. The ex-dividend date of this dividend was Tuesday, April 5th. Wipro’s payout ratio is 24.14%.

Wipro Company Profile (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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Analyst Recommendations for Wipro (NYSE:WIT)

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