StockNews.com upgraded shares of Wipro (NYSE:WIT – Free Report) from a hold rating to a buy rating in a research note issued to investors on Tuesday.
Several other equities analysts have also recently issued reports on the stock. Wedbush boosted their target price on shares of Wipro from $4.00 to $6.00 and gave the company an underperform rating in a research note on Tuesday, January 16th. BNP Paribas began coverage on shares of Wipro in a report on Wednesday, January 17th. They set an underperform rating and a $5.20 target price for the company. Finally, TheStreet raised shares of Wipro from a c+ rating to a b- rating in a research report on Friday, January 12th. Four investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Reduce and an average price target of $5.05.
Read Our Latest Stock Analysis on WIT
Wipro Stock Down 1.7 %
Institutional Trading of Wipro
Hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. acquired a new stake in shares of Wipro during the first quarter worth about $26,000. GAMMA Investing LLC lifted its holdings in shares of Wipro by 47.2% during the first quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock worth $33,000 after purchasing an additional 1,858 shares during the period. AlphaQ Advisors LLC acquired a new stake in shares of Wipro during the third quarter worth $48,000. Marks Group Wealth Management Inc acquired a new stake in Wipro in the third quarter valued at $49,000. Finally, Enterprise Financial Services Corp purchased a new position in shares of Wipro in the fourth quarter valued at $49,000. 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 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.
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