Wipro (NYSE:WIT) Upgraded at UBS Group

Wipro (NYSE:WIT) was upgraded by equities research analysts at UBS Group from a “sell” rating to a “neutral” rating in a report released on Thursday, Marketbeat reports.

WIT has been the subject of a number of other research reports. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday, December 30th. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Finally, Investec lowered Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wipro presently has an average rating of “Hold” and an average target price of $5.60.

Wipro Trading Down 2.0 %

NYSE:WIT opened at $3.50 on Thursday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $5.77 and its 200-day simple moving average is $6.09. Wipro has a 12-month low of $2.55 and a 12-month high of $3.75. The firm has a market cap of $36.58 billion, a P/E ratio of 25.93, a PEG ratio of 4.92 and a beta of 0.91.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Wipro had a net margin of 13.23% and a return on equity of 14.98%. Equities analysts anticipate that Wipro will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Wipro

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Wipro by 37.8% during the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after purchasing an additional 2,426 shares during the last quarter. Mayflower Financial Advisors LLC acquired a new position in shares of Wipro during the 2nd quarter worth $64,000. Abacus Wealth Partners LLC purchased a new stake in shares of Wipro in the 3rd quarter worth about $71,000. Werba Rubin Papier Wealth Management acquired a new stake in Wipro in the 3rd quarter valued at about $71,000. Finally, Catalytic Wealth RIA LLC purchased a new position in Wipro during the 3rd quarter valued at about $81,000. Hedge funds and other institutional investors 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 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.