Wipro Limited (NYSE:WIT) has been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company.
A number of research firms have issued reports on WIT. Zacks Investment Research upgraded Wipro from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. ValuEngine upgraded Wipro from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Goldman Sachs Group downgraded Wipro from a “neutral” rating to a “sell” rating in a research note on Wednesday, November 27th.
Several hedge funds and other institutional investors have recently made changes to their positions in WIT. Schroder Investment Management Group boosted its stake in shares of Wipro by 38.1% in the 4th quarter. Schroder Investment Management Group now owns 9,522,209 shares of the information technology services provider’s stock worth $35,708,000 after buying an additional 2,624,808 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Wipro in the 3rd quarter worth approximately $7,811,000. State Street Corp boosted its stake in shares of Wipro by 35.7% in the 4th quarter. State Street Corp now owns 7,400,063 shares of the information technology services provider’s stock worth $27,750,000 after buying an additional 1,948,255 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Wipro by 93.3% in the 4th quarter. First Trust Advisors LP now owns 2,994,248 shares of the information technology services provider’s stock worth $11,228,000 after buying an additional 1,445,456 shares during the last quarter. Finally, Vestcor Investment Management Corp purchased a new position in shares of Wipro in the 4th quarter worth approximately $2,982,000. Hedge funds and other institutional investors own 2.14% of the company’s stock.
Wipro (NYSE:WIT) last released its quarterly earnings results on Tuesday, January 14th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.19 billion. Wipro had a return on equity of 17.75% and a net margin of 16.38%. As a group, sell-side analysts forecast that Wipro will post 0.24 earnings per share for the current fiscal year.
Wipro Company Profile
Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.
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