Wipro (NYSE:WIT) Upgraded at StockNews.com

StockNews.com upgraded shares of Wipro (NYSE:WIT - Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other equities research analysts have also weighed in on WIT. UBS Group upgraded Wipro from a "sell" rating to a "neutral" rating in a research note on Thursday, January 2nd. Jefferies Financial Group lowered shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Wipro Stock Performance

WIT remained flat at $2.86 during trading on Friday. 5,332,383 shares of the company's stock traded hands, compared to its average volume of 5,038,583. Wipro has a 12 month low of $2.55 and a 12 month high of $3.79. The stock's 50-day moving average is $3.00 and its 200 day moving average is $4.30. The stock has a market capitalization of $29.91 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 3.08 and a beta of 0.96. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.07.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings data 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 company 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%. Analysts forecast that Wipro will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Wipro by 92.0% during the fourth quarter. Vanguard Group Inc. now owns 23,359,346 shares of the information technology services provider's stock worth $82,692,000 after purchasing an additional 11,196,013 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Wipro by 36.4% in the 4th quarter. BNP Paribas Financial Markets now owns 15,798,020 shares of the information technology services provider's stock worth $55,925,000 after buying an additional 4,215,981 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Wipro by 177.6% in the 4th quarter. Schroder Investment Management Group now owns 9,683,559 shares of the information technology services provider's stock worth $34,280,000 after buying an additional 6,195,561 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Wipro by 41.5% in the 4th quarter. JPMorgan Chase & Co. now owns 8,744,712 shares of the information technology services provider's stock valued at $30,956,000 after buying an additional 2,566,388 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Wipro by 97.9% during the 4th quarter. Fisher Asset Management LLC now owns 7,524,297 shares of the information technology services provider's stock valued at $26,636,000 after buying an additional 3,722,115 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

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.