Wipro Limited (NYSE:WIT) Receives Consensus Recommendation of "Hold" from Analysts

Wipro Limited (NYSE:WIT - Get Free Report) has received an average recommendation of "Hold" from the six brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company.

Several equities analysts have recently issued reports on WIT shares. Wall Street Zen raised shares of Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Jefferies Financial Group downgraded Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th.

Institutional Trading of Wipro

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HB Wealth Management LLC increased its holdings in Wipro by 100.0% in the fourth quarter. HB Wealth Management LLC now owns 35,556 shares of the information technology services provider's stock worth $126,000 after purchasing an additional 17,778 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Wipro by 100.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 208,369 shares of the information technology services provider's stock valued at $737,000 after buying an additional 104,355 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in Wipro by 196.9% in the fourth quarter. Atomi Financial Group Inc. now owns 58,903 shares of the information technology services provider's stock valued at $209,000 after acquiring an additional 39,061 shares during the last quarter. Simon Quick Advisors LLC increased its stake in shares of Wipro by 107.7% during the 4th quarter. Simon Quick Advisors LLC now owns 74,510 shares of the information technology services provider's stock worth $264,000 after purchasing an additional 38,644 shares during the last quarter. Finally, Euro Pacific Asset Management LLC grew its position in shares of Wipro by 83.1% in the fourth quarter. Euro Pacific Asset Management LLC now owns 22,634 shares of the information technology services provider's stock valued at $84,000 after purchasing an additional 10,275 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Trading Down 0.9%

Wipro stock traded down $0.03 during trading hours on Friday, hitting $2.88. The stock had a trading volume of 6,193,429 shares, compared to its average volume of 5,039,840. The business's 50 day simple moving average is $2.90 and its 200-day simple moving average is $3.82. Wipro has a one year low of $2.55 and a one year high of $3.79. The stock has a market cap of $30.07 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 3.08 and a beta of 1.03. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $225.66 billion. On average, equities analysts predict that Wipro will post 0.14 EPS for the current fiscal year.

About Wipro

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.