Analysts Set Wipro Limited (NYSE:WIT) Price Target at $5.60

Wipro Limited (NYSE:WIT) has been assigned a consensus rating of “Hold” from the six research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.60.

A number of equities analysts have weighed in on the company. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Investec downgraded Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd.

Institutional Investors Weigh In On Wipro

Large investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its position in Wipro by 4.9% during the third quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock worth $242,000 after acquiring an additional 1,746 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Wipro by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 14,686 shares of the information technology services provider’s stock valued at $90,000 after acquiring an additional 2,104 shares in the last quarter. BSW Wealth Partners increased its position in Wipro by 2.8% during the third quarter. BSW Wealth Partners now owns 88,446 shares of the information technology services provider’s stock worth $573,000 after acquiring an additional 2,418 shares during the period. GAMMA Investing LLC raised its stake in Wipro by 37.8% in the 3rd quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider’s stock worth $57,000 after purchasing an additional 2,426 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in Wipro by 21.7% in the 2nd quarter. Xponance Inc. now owns 15,866 shares of the information technology services provider’s stock valued at $97,000 after purchasing an additional 2,832 shares during the period. Institutional investors own 2.36% of the company’s stock.

Wipro Trading Down 0.6 %

NYSE:WIT opened at $3.61 on Tuesday. The business’s 50-day simple moving average is $6.07 and its 200-day simple moving average is $6.16. Wipro has a fifty-two week low of $2.55 and a fifty-two week high of $3.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.69 and a quick ratio of 2.69. The stock has a market capitalization of $37.73 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 4.92 and a beta of 0.92.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Thursday, October 17th. The information technology services provider reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Wipro had a net margin of 13.23% and a return on equity of 14.98%. Sell-side analysts expect 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.