Wipro Limited (NYSE:WIT) has received an average rating of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company.

Several research analysts have recently weighed in on WIT shares. Zacks Investment Research lowered Wipro from a “hold” rating to a “sell” rating in a research report on Saturday, November 17th. Deutsche Bank started coverage on Wipro in a research report on Thursday. They issued a “hold” rating for the company. ValuEngine raised Wipro from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, TheStreet lowered Wipro from a “b-” rating to a “c” rating in a research report on Wednesday, October 24th.

A number of institutional investors have recently modified their holdings of WIT. FMR LLC boosted its stake in Wipro by 4.8% during the 3rd quarter. FMR LLC now owns 267,242 shares of the information technology services provider’s stock valued at $1,392,000 after purchasing an additional 12,203 shares during the last quarter. Greenleaf Trust increased its position in shares of Wipro by 78.5% during the third quarter. Greenleaf Trust now owns 33,808 shares of the information technology services provider’s stock valued at $176,000 after acquiring an additional 14,863 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Wipro by 21.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 85,406 shares of the information technology services provider’s stock valued at $445,000 after acquiring an additional 15,206 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Wipro by 1.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,346,835 shares of the information technology services provider’s stock valued at $7,017,000 after purchasing an additional 15,550 shares during the period. Finally, Comerica Bank boosted its stake in shares of Wipro by 5.9% in the third quarter. Comerica Bank now owns 280,794 shares of the information technology services provider’s stock valued at $1,390,000 after purchasing an additional 15,627 shares during the period. 2.25% of the stock is owned by institutional investors and hedge funds.

Shares of WIT opened at $5.12 on Friday. The stock has a market cap of $23.10 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 2.70 and a beta of 0.40. Wipro has a 12 month low of $4.50 and a 12 month high of $5.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.49 and a current ratio of 2.51.

Wipro (NYSE:WIT) last announced its earnings results on Wednesday, October 24th. The information technology services provider reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). Wipro had a return on equity of 15.63% and a net margin of 13.84%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.14 billion. On average, equities research analysts forecast that Wipro will post 0.27 EPS for the current 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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Analyst Recommendations for Wipro (NYSE:WIT)

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