Wipro Limited (NYSE:WIT - Get Free Report)'s stock price shot up 4.4% during mid-day trading on Monday . The company traded as high as $5.48 and last traded at $5.48. 1,296,362 shares changed hands during trading, a decline of 54% from the average session volume of 2,831,397 shares. The stock had previously closed at $5.25.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on WIT. TheStreet upgraded Wipro from a "c+" rating to a "b-" rating in a research report on Friday, January 12th. StockNews.com upgraded Wipro from a "hold" rating to a "buy" rating in a research report on Tuesday, April 16th. Wedbush boosted their price target on Wipro from $4.00 to $6.00 and gave the stock an "underperform" rating in a research report on Tuesday, January 16th. Finally, BNP Paribas began coverage on Wipro in a research report on Wednesday, January 17th. They set an "underperform" rating and a $5.20 price target for the company. Four equities research analysts have rated the stock with a sell rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Wipro currently has a consensus rating of "Reduce" and an average price target of $5.05.
Read Our Latest Stock Report on WIT
Wipro Stock Performance
The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28. The firm has a market cap of $28.83 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 2.08 and a beta of 0.87. The company has a fifty day moving average price of $5.90 and a two-hundred day moving average price of $5.41.
Institutional Trading of Wipro
Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Wipro by 47.2% in the first quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider's stock valued at $33,000 after buying an additional 1,858 shares during the period. AlphaQ Advisors LLC acquired a new stake in shares of Wipro during the third quarter worth $48,000. Marks Group Wealth Management Inc acquired a new stake in shares of Wipro during the third quarter worth $49,000. Intelligence Driven Advisers LLC acquired a new stake in shares of Wipro during the fourth quarter worth $61,000. Finally, First Affirmative Financial Network acquired a new stake in shares of Wipro during the third quarter worth $53,000. Institutional investors and hedge funds own 2.36% of the company's stock.
Wipro Company Profile
(
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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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