Wipro Limited (NYSE:WIT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Wipro Limited (NYSE:WIT) have been given a consensus rating of “Hold” by the five research firms that are covering the firm, MarketBeat reports. One equities research analyst has 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 topic of a number of recent analyst reports. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. HSBC upgraded Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th.

Institutional Trading of Wipro

Several large investors have recently modified their holdings of WIT. BIP Alliance LLC purchased a new position in Wipro in the fourth quarter worth about $170,000. Vise Technologies Inc. lifted its stake in shares of Wipro by 407.8% in the 4th quarter. Vise Technologies Inc. now owns 53,518 shares of the information technology services provider’s stock worth $189,000 after purchasing an additional 42,978 shares during the period. Focus Partners Advisor Solutions LLC purchased a new position in shares of Wipro in the fourth quarter worth approximately $35,000. Principal Street Partners LLC bought a new stake in Wipro during the fourth quarter valued at approximately $51,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Wipro by 89.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,432 shares of the information technology services provider’s stock valued at $1,704,000 after buying an additional 227,875 shares during the last quarter. Institutional investors own 2.36% of the company’s stock.

Wipro Stock Up 1.2 %

NYSE:WIT opened at $3.68 on Wednesday. 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 firm’s 50-day moving average price is $3.67 and its 200-day moving average price is $5.50. The company has a market capitalization of $38.43 billion, a PE ratio of 25.35, a P/E/G ratio of 3.13 and a beta of 0.91. Wipro has a 1-year low of $2.55 and a 1-year high of $3.79.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. On average, equities analysts predict 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.