Wipro Limited (NYSE:WIT – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $6.26, but opened at $6.13. Wipro shares last traded at $6.16, with a volume of 36,122 shares.
Analyst Ratings Changes
Several analysts have commented on the stock. Nomura initiated coverage on shares of Wipro in a research report on Tuesday, July 2nd. They issued a “buy” rating on the stock. StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Nomura Securities raised Wipro to a “strong-buy” rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wipro currently has an average rating of “Hold” and an average target price of $5.30.
Wipro Price Performance
The business’s 50 day moving average is $6.09 and its two-hundred day moving average is $5.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.70 and a current ratio of 2.70. The firm has a market capitalization of $32.08 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 4.13 and a beta of 0.90.
Wipro (NYSE:WIT – Get Free Report) last announced its quarterly earnings results on Friday, July 19th. The information technology services provider reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Wipro had a return on equity of 15.01% and a net margin of 12.57%. During the same period in the previous year, the business earned $0.06 earnings per share. Equities research analysts anticipate that Wipro Limited will post 0.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Wipro
Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in Wipro by 44.0% during the 4th quarter. Wellington Management Group LLP now owns 1,866,359 shares of the information technology services provider’s stock worth $10,396,000 after acquiring an additional 570,001 shares during the period. Jane Street Group LLC increased its holdings in shares of Wipro by 292.0% in the first quarter. Jane Street Group LLC now owns 1,344,674 shares of the information technology services provider’s stock worth $7,732,000 after purchasing an additional 1,001,644 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Wipro by 165.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 277,964 shares of the information technology services provider’s stock worth $1,598,000 after buying an additional 173,072 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Wipro by 112.7% during the fourth quarter. BNP Paribas Financial Markets now owns 3,722,483 shares of the information technology services provider’s stock valued at $20,734,000 after buying an additional 1,972,425 shares during the period. Finally, CWM LLC increased its stake in Wipro by 11.8% in the 2nd quarter. CWM LLC now owns 20,621 shares of the information technology services provider’s stock worth $126,000 after acquiring an additional 2,178 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors.
About Wipro
Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.