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

Wipro Limited (NYSE:WIT) has been given an average recommendation of “Hold” by the five analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company.

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

Hedge Funds Weigh In On Wipro

Large investors have recently modified their holdings of the business. 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 valued at $25,000 after purchasing an additional 3,557 shares during the last quarter. Bell Investment Advisors Inc increased its holdings in Wipro by 100.0% during the fourth 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 last quarter. Sierra Ocean LLC bought a new stake in Wipro during the fourth quarter worth $29,000. Farther Finance Advisors LLC raised its holdings in shares of 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 valued at $29,000 after purchasing an additional 4,851 shares during the period. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Wipro in the fourth quarter valued at approximately $35,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Price Performance

Wipro stock opened at $3.08 on Friday. The business has a 50 day simple moving average of $3.49 and a 200 day simple moving average of $5.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The company has a market capitalization of $32.16 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. Wipro has a one year low of $2.55 and a one year high of $3.79.

Wipro (NYSE:WIT) last issued its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, sell-side analysts forecast that Wipro will post 0.14 EPS for the current fiscal 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.