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

Shares of Wipro Limited (NYSE:WIT) have received a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $5.60.

A number of equities analysts recently commented on the stock. Investec downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th.

Hedge Funds Weigh In On Wipro

Several large investors have recently bought and sold shares of WIT. QRG Capital Management Inc. lifted its holdings in shares of Wipro by 6.9% in the 2nd quarter. QRG Capital Management Inc. now owns 25,836 shares of the information technology services provider’s stock valued at $158,000 after purchasing an additional 1,665 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Wipro by 13.6% in the second quarter. Dynamic Advisor Solutions LLC now owns 14,091 shares of the information technology services provider’s stock valued at $86,000 after buying an additional 1,692 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Wipro by 2.7% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 78,573 shares of the information technology services provider’s stock valued at $452,000 after acquiring an additional 2,101 shares during the period. Bank of New York Mellon Corp grew its position in shares of Wipro by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 14,686 shares of the information technology services provider’s stock worth $90,000 after acquiring an additional 2,104 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Wipro by 11.8% in the 2nd quarter. CWM LLC now owns 20,621 shares of the information technology services provider’s stock valued at $126,000 after acquiring an additional 2,178 shares during the period. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Stock Performance

Shares of Wipro stock opened at $6.87 on Monday. Wipro has a one year low of $4.49 and a one year high of $7.01. The business has a 50-day simple moving average of $6.48 and a 200-day simple moving average of $6.06. 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 company has a market cap of $35.89 billion, a PE ratio of 25.44, a P/E/G ratio of 4.61 and a beta of 0.89.

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.