Wipro (NYSE:WIT) Upgraded by Morgan Stanley to "Equal Weight" Rating

Wipro (NYSE:WIT - Get Free Report) was upgraded by Morgan Stanley from an "underweight" rating to an "equal weight" rating in a report issued on Friday, MarketBeat Ratings reports.

A number of other equities research analysts have also issued reports on WIT. Wall Street Zen upgraded Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Jefferies Financial Group lowered Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold".

Wipro Price Performance

NYSE:WIT traded up $0.06 during trading hours on Friday, hitting $3.03. 3,250,299 shares of the stock were exchanged, compared to its average volume of 4,937,876. Wipro has a 52-week low of $2.63 and a 52-week high of $3.79. The firm's fifty day moving average price is $2.89 and its 200 day moving average price is $3.27. The company has a current ratio of 2.72, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08. The company has a market cap of $31.69 billion, a P/E ratio of 20.20, a P/E/G ratio of 8.56 and a beta of 1.02.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. The business had revenue of $2.62 billion during 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%. As a group, equities research analysts anticipate that Wipro will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WIT. Bell Investment Advisors Inc lifted its holdings in Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after acquiring an additional 3,631 shares during the last quarter. Farther Finance Advisors LLC lifted 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 during the last quarter. Hamilton Capital LLC acquired a new position in Wipro in the first quarter valued at approximately $32,000. Focus Partners Advisor Solutions LLC acquired a new position in Wipro in the fourth quarter valued at approximately $35,000. Finally, Freestone Capital Holdings LLC acquired a new position in Wipro in the fourth quarter valued at approximately $36,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

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.