Wipro Limited (NYSE:WIT) has earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.77.
WIT has been the subject of several recent analyst reports. Zacks Investment Research upgraded Wipro from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Saturday, January 26th. Credit Suisse Group lowered Wipro from a “neutral” rating to an “underperform” rating and set a $5.78 price target for the company. in a research note on Tuesday, February 26th. Wedbush cut their price target on Wipro from $4.25 to $3.75 and set an “underperform” rating for the company in a research note on Thursday, March 21st. Macquarie lowered Wipro from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 16th. Finally, Nomura lowered Wipro from a “neutral” rating to a “reduce” rating in a research note on Thursday, April 18th.
Shares of WIT stock traded down $0.04 on Thursday, hitting $4.42. The company had a trading volume of 785,200 shares, compared to its average volume of 1,255,939. The stock has a market cap of $26.77 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.56 and a beta of 0.54. The company has a quick ratio of 2.77, a current ratio of 2.67 and a debt-to-equity ratio of 0.05. Wipro has a twelve month low of $3.38 and a twelve month high of $4.63.
Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in Wipro by 214.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 315,280 shares of the information technology services provider’s stock worth $1,643,000 after buying an additional 215,109 shares in the last quarter. Virtu Financial LLC purchased a new stake in Wipro during the 4th quarter worth approximately $237,000. Cornerstone Advisors Inc. increased its stake in Wipro by 10.7% during the 4th quarter. Cornerstone Advisors Inc. now owns 24,613 shares of the information technology services provider’s stock worth $126,000 after buying an additional 2,383 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Wipro by 821.1% during the 4th quarter. Quadrant Capital Group LLC now owns 58,442 shares of the information technology services provider’s stock worth $297,000 after buying an additional 52,097 shares in the last quarter. Finally, First Command Bank acquired a new position in shares of Wipro during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.
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.
Featured Story: What is the LIBOR?
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.