Wipro Limited (NYSE:WIT) Receives Consensus Rating of “Hold” from Analysts

Shares of Wipro Limited (NYSE:WIT) have earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company.

WIT has been the subject of a number of recent analyst reports. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. Jefferies Financial Group cut Wipro from a “hold” rating to an “underperform” rating in a report on Tuesday. Finally, StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th.

Hedge Funds Weigh In On Wipro

Large investors have recently added to or reduced their stakes in the company. Summit Global Investments acquired a new position in shares of Wipro during the 1st quarter worth about $948,000. GAMMA Investing LLC boosted its stake in shares of Wipro by 182.7% during the 1st quarter. GAMMA Investing LLC now owns 65,291 shares of the information technology services provider’s stock worth $200,000 after buying an additional 42,192 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Wipro by 34.3% during the 4th quarter. Wellington Management Group LLP now owns 1,769,600 shares of the information technology services provider’s stock worth $6,264,000 after buying an additional 451,820 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Wipro by 163.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 283,234 shares of the information technology services provider’s stock worth $1,003,000 after buying an additional 175,833 shares during the last quarter. Finally, BIP Alliance LLC acquired a new position in shares of Wipro during the 4th quarter worth about $170,000. Institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

WIT opened at $2.89 on Thursday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro has a 12 month low of $2.55 and a 12 month high of $3.79. The company has a fifty day simple moving average of $3.27 and a 200 day simple moving average of $4.69. The stock has a market cap of $30.22 billion, a P/E ratio of 19.93, a P/E/G ratio of 3.08 and a beta of 0.96.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, research analysts expect that Wipro will post 0.14 EPS for the current year.

Wipro Company Profile

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.