Wipro Limited (NYSE:WIT) Given Average Recommendation of “Hold” by Brokerages

Wipro Limited (NYSE:WIT) has received an average rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company.

A number of brokerages have recently issued reports on WIT. StockNews.com upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Monday, January 20th. UBS Group upgraded shares of Wipro from a “sell” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, HSBC upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a report on Monday, December 9th.

Hedge Funds Weigh In On Wipro

Hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC increased its holdings in Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc increased its holdings in Wipro by 100.0% during the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 3,631 shares in the last quarter. Sierra Ocean LLC purchased a new position in Wipro during the 4th quarter valued at about $29,000. Farther Finance Advisors LLC increased its holdings in Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 4,851 shares in the last quarter. Finally, Freestone Capital Holdings LLC purchased a new position in Wipro during the 4th quarter valued at about $36,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Stock Up 0.1 %

WIT stock opened at $3.64 on Wednesday. Wipro has a one year low of $2.55 and a one year high of $3.79. The stock has a market capitalization of $38.01 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 3.13 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The company has a fifty day moving average of $3.81 and a 200-day moving average of $5.54.

Wipro (NYSE:WIT) last released its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. As a group, analysts expect that Wipro will post 0.14 EPS for the current year.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.