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

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

WIT has been the subject of a number of recent research reports. Jefferies Financial Group downgraded Wipro from a “hold” rating to an “underperform” rating in a research note on Tuesday, April 8th. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th.

Wipro Stock Performance

Shares of WIT opened at $2.90 on Monday. Wipro has a 52 week low of $2.55 and a 52 week high of $3.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market capitalization of $30.33 billion, a PE ratio of 20.00, a PEG ratio of 3.08 and a beta of 0.96. The company’s 50 day moving average price is $2.99 and its 200 day moving average price is $4.27.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Research analysts expect that Wipro will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ridgewood Investments LLC boosted its position in Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 3,557 shares during the period. Bell Investment Advisors Inc boosted its holdings in shares of Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock worth $26,000 after buying an additional 3,631 shares during the period. Sierra Ocean LLC acquired a new position in Wipro in the 4th quarter valued at $29,000. Farther Finance Advisors LLC raised its holdings in Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 4,851 shares during the period. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Wipro during the fourth quarter valued at about $35,000. 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 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.