Wipro (NYSE:WIT) Upgraded at StockNews.com

Wipro (NYSE:WIT - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

A number of other brokerages also recently issued reports on WIT. TheStreet upgraded Wipro from a "c+" rating to a "b-" rating in a research report on Friday, January 12th. BNP Paribas began coverage on Wipro in a research report on Wednesday, January 17th. They set an "underperform" rating and a $5.20 price objective for the company. Finally, Wedbush raised their target price on Wipro from $4.00 to $6.00 and gave the stock an "underperform" rating in a research note on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $5.05.

Wipro Trading Down 1.0 %

Wipro stock traded down $0.06 during trading hours on Tuesday, hitting $5.27. The stock had a trading volume of 2,383,664 shares, compared to its average volume of 2,803,624. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. The stock has a market cap of $27.47 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 2.21 and a beta of 0.87. Wipro has a one year low of $4.32 and a one year high of $6.45. The business's 50 day simple moving average is $5.95 and its 200-day simple moving average is $5.40.

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

Institutional Investors Weigh In On Wipro

Large investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. acquired a new stake in Wipro during the first quarter worth approximately $26,000. GAMMA Investing LLC grew its stake in 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 acquiring an additional 1,858 shares during the period. AlphaQ Advisors LLC acquired a new stake in Wipro in the third quarter valued at approximately $48,000. Marks Group Wealth Management Inc acquired a new stake in Wipro in the third quarter valued at approximately $49,000. Finally, Enterprise Financial Services Corp acquired a new stake in Wipro in the fourth quarter valued at approximately $49,000. 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 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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