Wipro Limited (NYSE:WIT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Wipro Limited (NYSE:WIT) have received a consensus rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company.

Several equities analysts have commented on WIT shares. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd.

Hedge Funds Weigh In On Wipro

Several large investors have recently bought and sold shares of WIT. Vanguard Group Inc. grew its stake in Wipro by 92.0% during the 4th quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider’s stock worth $82,692,000 after buying an additional 11,196,013 shares during the last quarter. BNP Paribas Financial Markets raised its position in Wipro by 36.4% in the 4th quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider’s stock valued at $55,925,000 after purchasing an additional 4,215,981 shares during the last quarter. State Street Corp boosted its stake in Wipro by 0.8% during the 3rd quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider’s stock worth $70,157,000 after purchasing an additional 87,682 shares during the period. Schroder Investment Management Group boosted its stake in Wipro by 177.6% during the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider’s stock worth $34,280,000 after purchasing an additional 6,195,561 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Wipro by 41.5% during the 4th quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider’s stock worth $30,956,000 after purchasing an additional 2,566,388 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Performance

NYSE:WIT opened at $2.80 on Thursday. The stock has a market capitalization of $29.28 billion, a P/E ratio of 19.31, a PEG ratio of 3.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The company has a 50 day moving average price of $3.35 and a 200 day moving average price of $4.80.

Wipro (NYSE:WIT) last posted its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities research analysts forecast that Wipro will post 0.14 EPS for the current year.

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.