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

Wipro Limited (NYSE:WIT) has been given an average recommendation of “Hold” by the five ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company.

A number of equities analysts have commented on the stock. Investec downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. HSBC raised shares of Wipro from a “reduce” rating to a “hold” rating in a research note on Monday, December 9th. Finally, StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research report on Monday.

Hedge Funds Weigh In On Wipro

Hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC boosted its holdings in shares of Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 3,557 shares during the period. PFG Investments LLC bought a new stake in Wipro in the fourth quarter worth about $43,000. Fulton Bank N.A. acquired a new stake in Wipro during the 4th quarter worth about $44,000. Fragasso Financial Advisors Inc acquired a new stake in Wipro during the 4th quarter worth about $47,000. Finally, Clarendon Private LLC acquired a new stake in Wipro during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Price Performance

Shares of WIT opened at $3.66 on Friday. Wipro has a fifty-two week low of $2.55 and a fifty-two week high of $3.75. The firm’s 50 day moving average price is $4.93 and its 200 day moving average price is $5.85. The company has a market cap of $38.20 billion, a P/E ratio of 25.21, a PEG ratio of 2.91 and a beta of 0.91. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08.

Wipro (NYSE:WIT) last issued its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.71%. On average, research 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.