Wipro Limited (NYSE:WIT) Given Average Recommendation of “Hold” by Analysts
Wipro Limited (NYSE:WIT) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company.
A number of equities analysts recently commented on the company. Goldman Sachs Group downgraded Wipro from a “neutral” rating to a “sell” rating in a report on Wednesday, November 27th. Zacks Investment Research upgraded shares of Wipro from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. ValuEngine raised shares of Wipro from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Credit Suisse Group upgraded shares of Wipro from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 15th.
A number of hedge funds and other institutional investors have recently bought and sold shares of WIT. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Wipro during the 3rd quarter worth about $7,811,000. Renaissance Technologies LLC lifted its holdings in Wipro by 340.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,361,267 shares of the information technology services provider’s stock worth $10,224,000 after purchasing an additional 1,824,700 shares during the last quarter. Schroder Investment Management Group boosted its position in Wipro by 128.3% during the second quarter. Schroder Investment Management Group now owns 3,152,170 shares of the information technology services provider’s stock worth $13,649,000 after purchasing an additional 1,771,181 shares during the period. Northern Trust Corp boosted its position in Wipro by 22.7% during the second quarter. Northern Trust Corp now owns 2,494,275 shares of the information technology services provider’s stock worth $10,801,000 after purchasing an additional 462,109 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Wipro by 5.1% during the second quarter. AQR Capital Management LLC now owns 8,178,755 shares of the information technology services provider’s stock valued at $35,414,000 after purchasing an additional 394,620 shares during the last quarter. Institutional investors own 2.14% of the company’s stock.
Wipro (NYSE:WIT) last announced its quarterly earnings results on Tuesday, January 14th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.19 billion. Wipro had a return on equity of 17.75% and a net margin of 16.38%. As a group, sell-side analysts expect that Wipro will post 0.24 earnings per share for the current fiscal year.
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.
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