Wipro Limited (NYSE:WIT) Given Average Recommendation of "Hold" by Brokerages

Shares of Wipro Limited (NYSE:WIT - Get Free Report) have received an average rating of "Hold" from the seven analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company.

A number of equities analysts have recently issued reports on WIT shares. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Finally, Morgan Stanley upgraded shares of Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday.

Institutional Investors Weigh In On Wipro

A number of institutional investors have recently added to or reduced their stakes in the business. Modern Wealth Management LLC purchased a new position in Wipro in the first quarter worth $612,000. Acadian Asset Management LLC increased its holdings in Wipro by 44.4% in the first quarter. Acadian Asset Management LLC now owns 20,977,514 shares of the information technology services provider's stock valued at $64,171,000 after buying an additional 6,447,184 shares in the last quarter. Jane Street Group LLC increased its holdings in Wipro by 184.9% in the first quarter. Jane Street Group LLC now owns 224,438 shares of the information technology services provider's stock valued at $687,000 after buying an additional 145,658 shares in the last quarter. Ascent Group LLC purchased a new stake in shares of Wipro during the 1st quarter worth approximately $151,000. Finally, Hamilton Capital LLC purchased a new stake in shares of Wipro during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Wipro Stock Down 0.5%

Wipro stock traded down $0.02 during mid-day trading on Tuesday, hitting $2.97. The company had a trading volume of 4,032,182 shares, compared to its average volume of 4,984,995. The company has a quick ratio of 2.71, a current ratio of 2.72 and a debt-to-equity ratio of 0.08. Wipro has a 1 year low of $2.63 and a 1 year high of $3.79. The business has a fifty day moving average of $2.89 and a 200 day moving average of $3.38. The stock has a market cap of $31.01 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 8.59 and a beta of 1.02.

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, hitting the consensus estimate of $0.04. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $225.66 billion. Wipro had a return on equity of 15.97% and a net margin of 14.73%. On average, sell-side analysts expect that Wipro will post 0.14 earnings per share 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.