StockNews.com Lowers Wipro (NYSE:WIT) to Hold

Wipro (NYSE:WIT - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.

A number of other research firms have also commented on WIT. BNP Paribas initiated coverage on Wipro in a research report on Wednesday, January 17th. They set an "underperform" rating and a $5.20 price target on the stock. TheStreet raised Wipro from a "c+" rating to a "b-" rating in a research report on Friday, January 12th. Finally, Wedbush lifted their target price on Wipro from $4.00 to $6.00 and gave the company an "underperform" rating in a research report on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $5.05.

Wipro Stock Up 0.3 %

Shares of NYSE WIT traded up $0.01 during mid-day trading on Friday, reaching $5.77. 2,597,285 shares of the company's stock were exchanged, compared to its average volume of 2,626,481. The firm has a market capitalization of $30.08 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 2.28 and a beta of 0.87. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $5.98 and a 200 day simple moving average of $5.36. Wipro has a twelve month low of $4.32 and a twelve month high of $6.45.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings results on Friday, January 12th. The information technology services provider reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.76 billion. Wipro had a return on equity of 15.68% and a net margin of 12.42%. As a group, equities analysts expect that Wipro will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Wipro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG raised its position in Wipro by 25.8% in the 3rd quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider's stock valued at $9,238,000 after buying an additional 390,947 shares during the last quarter. Rhumbline Advisers grew its stake in Wipro by 4.7% in the third quarter. Rhumbline Advisers now owns 1,930,460 shares of the information technology services provider's stock valued at $9,343,000 after purchasing an additional 86,226 shares in the last quarter. Blue Trust Inc. grew its stake in Wipro by 63.1% in the fourth quarter. Blue Trust Inc. now owns 22,312 shares of the information technology services provider's stock valued at $124,000 after purchasing an additional 8,634 shares in the last quarter. Barclays PLC grew its stake in Wipro by 2,845,900.0% in the third quarter. Barclays PLC now owns 369,980 shares of the information technology services provider's stock valued at $1,790,000 after purchasing an additional 369,967 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Wipro by 50.1% in the third quarter. Acadian Asset Management LLC now owns 6,786,259 shares of the information technology services provider's stock valued at $32,837,000 after purchasing an additional 2,265,859 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.

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