Wipro Limited (NYSE:WIT) Receives Average Rating of “Hold” from Analysts

Wipro Limited (NYSE:WIT) has been assigned an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $5.60.

A number of research analysts have recently weighed in on WIT shares. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research report on Wednesday. Investec lowered Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its position in shares of Wipro by 9.1% during the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock valued at $233,000 after buying an additional 2,951 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Wipro during the third quarter valued at approximately $696,000. XTX Topco Ltd purchased a new position in shares of Wipro during the third quarter valued at approximately $347,000. State Street Corp boosted its position in shares of Wipro by 0.8% during the third quarter. State Street Corp now owns 10,826,697 shares of the information technology services provider’s stock valued at $70,157,000 after buying an additional 87,682 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in shares of Wipro during the third quarter valued at approximately $702,000. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Wipro Trading Up 0.4 %

Shares of WIT stock opened at $7.09 on Friday. Wipro has a 52-week low of $4.78 and a 52-week high of $7.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. The firm has a market capitalization of $37.05 billion, a PE ratio of 26.26, a PEG ratio of 4.77 and a beta of 0.92. The stock has a fifty day simple moving average of $6.67 and a two-hundred day simple moving average of $6.25.

Wipro’s stock is set to split on the morning of Wednesday, December 11th. The 2-1 split was announced on Tuesday, October 22nd. The newly created shares will be issued to shareholders after the market closes on Tuesday, December 10th.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.66 billion. Wipro had a return on equity of 14.98% and a net margin of 13.23%. On average, analysts predict that Wipro will post 0.27 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.