Wipro Limited (NYSE:WIT) Short Interest Up 22.7% in March

Wipro Limited (NYSE:WIT - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 66,040,000 shares, an increase of 22.7% from the March 15th total of 53,840,000 shares. Based on an average daily trading volume, of 5,820,000 shares, the short-interest ratio is currently 11.3 days. Currently, 0.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

WIT has been the topic of a number of recent analyst reports. StockNews.com lowered Wipro from a "buy" rating to a "hold" rating in a report on Friday, April 18th. UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold".

Wipro Stock Performance

NYSE WIT traded down $0.03 on Friday, reaching $2.83. The stock had a trading volume of 1,639,376 shares, compared to its average volume of 6,057,922. Wipro has a 1-year low of $2.55 and a 1-year 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. The company has a market cap of $29.54 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The firm has a fifty day moving average of $3.07 and a two-hundred day moving average of $4.42.

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

Institutional Investors Weigh In On Wipro

Several institutional investors have recently made changes to their positions in WIT. Perigon Wealth Management LLC bought a new stake in shares of Wipro during the 4th quarter worth approximately $61,000. HighTower Advisors LLC boosted its holdings in shares of Wipro by 292.0% in the 4th 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 in the last quarter. Tobam bought a new position in shares of Wipro in the 4th quarter valued at $261,000. Van ECK Associates Corp raised its holdings 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 position in shares of Wipro by 93.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,589 shares of the information technology services provider's stock worth $307,000 after buying an additional 41,766 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors.

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.