Wipro Limited (NYSE:WIT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Wipro Limited (NYSE:WIT) have earned an average recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company.

A number of research analysts recently commented on the company. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th. Finally, UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd.

Institutional Trading of Wipro

Several hedge funds have recently modified their holdings of the company. BIP Alliance LLC bought a new stake in Wipro in the fourth quarter worth $170,000. Vise Technologies Inc. increased its holdings in shares of Wipro by 407.8% in the 4th quarter. Vise Technologies Inc. now owns 53,518 shares of the information technology services provider’s stock worth $189,000 after buying an additional 42,978 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Wipro during the 4th quarter valued at about $35,000. Principal Street Partners LLC bought a new position in shares of Wipro in the 4th quarter valued at about $51,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Wipro by 89.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,432 shares of the information technology services provider’s stock worth $1,704,000 after acquiring an additional 227,875 shares in the last quarter. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Stock Performance

WIT opened at $3.68 on Wednesday. The firm has a market cap of $38.43 billion, a P/E ratio of 25.35, a PEG ratio of 3.13 and a beta of 0.91. Wipro has a 1-year low of $2.55 and a 1-year high of $3.79. The company has a 50 day simple moving average of $3.67 and a two-hundred day simple moving average of $5.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities analysts forecast that Wipro will post 0.14 earnings per share 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.