Wipro (NYSE:WIT) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, April 16th, The Fly reports.
A number of other equities analysts have also recently commented on the company. Deutsche Bank began coverage on Wipro in a report on Thursday, January 10th. They set a “hold” rating for the company. Credit Suisse Group cut Wipro from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 22nd. Wedbush lowered their target price on Wipro from $4.25 to $3.75 and set an “underperform” rating for the company in a report on Thursday, March 21st. Zacks Investment Research cut Wipro from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. Finally, TheStreet raised Wipro from a “c” rating to a “b-” rating in a report on Friday, January 18th. Five investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Wipro presently has a consensus rating of “Hold” and a consensus target price of $4.76.
Shares of Wipro stock traded down $0.05 during trading on Tuesday, reaching $4.50. 1,723,220 shares of the company’s stock were exchanged, compared to its average volume of 1,167,806. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.77 and a current ratio of 2.79. Wipro has a 1-year low of $3.38 and a 1-year high of $4.60. The stock has a market capitalization of $26.47 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.54.
Institutional investors and hedge funds have recently modified their holdings of the stock. First Command Bank purchased a new stake in shares of Wipro during the fourth quarter valued at approximately $28,000. First Command Financial Services Inc. bought a new position in Wipro during the fourth quarter valued at $28,000. Lindbrook Capital LLC grew its holdings in Wipro by 50.1% during the first quarter. Lindbrook Capital LLC now owns 7,064 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 2,358 shares during the period. Private Advisor Group LLC bought a new position in Wipro during the fourth quarter valued at $57,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Wipro during the first quarter valued at $60,000. 1.75% of the stock is owned by institutional investors.
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.
Recommended Story: What is the Russell 2000 Index?
Receive News & Ratings for Wipro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wipro and related companies with MarketBeat.com's FREE daily email newsletter.