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

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

A number of analysts have recently issued reports on WIT shares. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. UBS Group raised Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group lowered Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th.

Hedge Funds Weigh In On Wipro

Several institutional investors have recently bought and sold shares of WIT. Ridgewood Investments LLC grew its stake in Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc grew its position in shares of Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock worth $26,000 after buying an additional 3,631 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Wipro during the fourth quarter worth about $29,000. Farther Finance Advisors LLC raised its holdings in Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 4,851 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Wipro during the 4th quarter worth approximately $35,000. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Trading Up 1.2 %

Wipro stock traded up $0.04 during trading on Monday, reaching $2.90. 1,394,269 shares of the company were exchanged, compared to its average volume of 5,024,209. The stock's 50 day simple moving average is $3.00 and its two-hundred day simple moving average is $4.30. The company has a market capitalization of $30.27 billion, a P/E ratio of 19.97, a PEG ratio of 3.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. Wipro has a 52-week low of $2.55 and a 52-week high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $225.66 billion. On average, equities research 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.