Shares of Wipro Limited (NYSE:WIT - Get Free Report) have been assigned an average rating of "Reduce" from the five ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company.
Separately, Morgan Stanley raised Wipro from an "underweight" rating to an "equal weight" rating in a research report on Friday, June 20th.
View Our Latest Analysis on WIT
Institutional Trading of Wipro
A number of large investors have recently bought and sold shares of the business. Focus Partners Advisor Solutions LLC acquired a new position in Wipro in the fourth quarter valued at $35,000. Vest Financial LLC purchased a new position in shares of Wipro during the second quarter worth about $31,000. Curi Capital LLC acquired a new position in Wipro in the 2nd quarter valued at about $31,000. Hamilton Capital LLC purchased a new stake in Wipro during the 1st quarter valued at approximately $32,000. Finally, CogentBlue Wealth Advisors LLC purchased a new stake in Wipro during the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 2.36% of the company's stock.
Wipro Stock Performance
NYSE WIT traded up $0.01 during trading hours on Friday, hitting $2.77. The company had a trading volume of 4,637,798 shares, compared to its average volume of 6,152,502. The business has a 50 day moving average of $2.87 and a 200-day moving average of $2.96. The company has a market cap of $28.95 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 10.06 and a beta of 0.96. Wipro has a 1-year low of $2.62 and a 1-year high of $3.79.
Wipro (NYSE:WIT - Get Free Report) last posted its earnings results on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $219.23 billion. Wipro had a return on equity of 15.94% and a net margin of 15.07%. Sell-side analysts expect that Wipro will post 0.14 earnings per share for the current fiscal year.
Wipro Cuts Dividend
The firm also recently announced a dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 28th were issued a $0.057 dividend. This represents a dividend yield of 409.9%. The ex-dividend date of this dividend was Monday, July 28th. Wipro's payout ratio is presently 62.50%.
About Wipro
(
Get Free Report)
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.
Read More

Before you consider Wipro, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wipro wasn't on the list.
While Wipro currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.