Shares of Wipro Limited (NYSE:WIT) have received a consensus rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $4.77.

A number of equities analysts have commented on WIT shares. Zacks Investment Research cut shares of Wipro from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. Macquarie downgraded Wipro from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 16th. Credit Suisse Group downgraded Wipro from a “neutral” rating to an “underperform” rating and set a $5.78 target price for the company. in a report on Tuesday, February 26th. Nomura downgraded Wipro from a “neutral” rating to a “reduce” rating in a report on Thursday, April 18th. Finally, Wedbush dropped 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.

WIT stock traded down $0.04 during midday trading on Monday, reaching $4.56. 1,190,464 shares of the company were exchanged, compared to its average volume of 1,518,216. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.67 and a quick ratio of 2.65. Wipro has a one year low of $3.48 and a one year high of $4.63. The stock has a market cap of $27.61 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.60 and a beta of 0.55.

Wipro (NYSE:WIT) last released its quarterly earnings data on Tuesday, April 16th. The information technology services provider reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). Wipro had a return on equity of 16.81% and a net margin of 15.39%. The company had revenue of $150.06 billion for the quarter, compared to the consensus estimate of $150.97 billion. During the same period last year, the firm earned $9.08 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts anticipate that Wipro will post 0.25 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Wipro by 33.8% during the first quarter. BlackRock Inc. now owns 17,650,432 shares of the information technology services provider’s stock worth $70,250,000 after buying an additional 4,454,734 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Wipro by 38.7% during the first quarter. First Trust Advisors LP now owns 8,743,912 shares of the information technology services provider’s stock worth $34,801,000 after buying an additional 2,437,740 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Wipro by 22.9% during the first quarter. AQR Capital Management LLC now owns 7,784,135 shares of the information technology services provider’s stock worth $30,981,000 after buying an additional 1,450,031 shares in the last quarter. Segantii Capital Management Ltd lifted its holdings in shares of Wipro by 986.3% during the first quarter. Segantii Capital Management Ltd now owns 7,693,990 shares of the information technology services provider’s stock worth $30,369,000 after buying an additional 6,985,704 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Wipro by 35.5% in the first quarter. Wellington Management Group LLP now owns 4,936,505 shares of the information technology services provider’s stock valued at $19,647,000 after purchasing an additional 1,292,721 shares in the last quarter. 2.23% of the stock is owned by institutional investors.

About Wipro

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.

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Analyst Recommendations for Wipro (NYSE:WIT)

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