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

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

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

Institutional Trading of Wipro

A number of hedge funds have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC acquired a new stake in shares of Wipro in the 4th quarter worth $61,000. HighTower Advisors LLC lifted its position in Wipro by 292.0% in the fourth quarter. HighTower Advisors LLC now owns 62,332 shares of the information technology services provider's stock valued at $221,000 after purchasing an additional 46,432 shares during the period. Tobam acquired a new position in Wipro during the 4th quarter worth approximately $261,000. Van ECK Associates Corp raised its stake in shares of Wipro by 89.8% during the 4th quarter. Van ECK Associates Corp now owns 348,859 shares of the information technology services provider's stock worth $1,235,000 after buying an additional 165,076 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wipro by 93.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider's stock valued at $307,000 after buying an additional 41,766 shares during the period. 2.36% of the stock is owned by institutional investors and hedge funds.

Wipro Stock Down 0.3 %

Shares of WIT traded down $0.01 during mid-day trading on Monday, reaching $2.86. The company's stock had a trading volume of 5,662,858 shares, compared to its average volume of 5,060,335. The company's 50 day moving average is $3.03 and its 200 day moving average is $4.33. The stock has a market cap of $29.91 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. Wipro has a 12-month low of $2.55 and a 12-month high of $3.79. 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 (NYSE:WIT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting analysts' consensus estimates of $0.04. The company had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $225.66 billion. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Equities analysts anticipate that Wipro will post 0.14 EPS for the current fiscal year.

Wipro Company Profile

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.