Wipro Limited (NYSE:WIT) was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

WIT has been the subject of several other research reports. Zacks Investment Research cut Wipro Limited from a “hold” rating to a “sell” rating in a research report on Thursday, June 9th. Wedbush initiated coverage on Wipro Limited in a research report on Thursday, September 8th. They issued an “underperform” rating and a $8.50 price objective for the company. Finally, HSBC cut Wipro Limited from a “hold” rating to a “reduce” rating in a research report on Tuesday, August 9th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $11.17.

Wipro Limited (NYSE:WIT) opened at 9.87 on Friday. Wipro Limited has a 12 month low of $9.69 and a 12 month high of $13.08. The firm has a market cap of $24.24 billion, a PE ratio of 18.45 and a beta of 1.19. The stock’s 50 day moving average is $10.64 and its 200 day moving average is $11.74.

Wipro Limited (NYSE:WIT) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The company earned $2 billion during the quarter, compared to analysts’ expectations of $2.02 billion. On average, equities analysts forecast that Wipro Limited will post $0.55 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of Wipro Limited by 21.7% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 8,696 shares of the company’s stock worth $107,000 after buying an additional 1,552 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Wipro Limited by 2.3% in the first quarter. Legal & General Group Plc now owns 137,817 shares of the company’s stock worth $1,733,000 after buying an additional 3,100 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Wipro Limited by 12.3% in the second quarter. Wetherby Asset Management Inc. now owns 32,255 shares of the company’s stock worth $399,000 after buying an additional 3,538 shares in the last quarter. US Bancorp DE boosted its position in shares of Wipro Limited by 37.2% in the second quarter. US Bancorp DE now owns 24,538 shares of the company’s stock worth $303,000 after buying an additional 6,659 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Wipro Limited by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 187,392 shares of the company’s stock worth $2,357,000 after buying an additional 10,223 shares in the last quarter.

Wipro Limited Company Profile

Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide.

5 Day Chart for NYSE:WIT

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