Shares of Wipro Limited (NYSE:WIT) fell 3.5% during trading on Friday . The stock traded as low as $11.90 and last traded at $11.92, with a volume of 687,043 shares. The stock had previously closed at $12.35.

Several research firms have issued reports on WIT. Zacks Investment Research raised Wipro Limited from a “sell” rating to a “hold” rating in a report on Tuesday, May 31st. Credit Suisse Group AG lowered Wipro Limited from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 20th. Finally, Citigroup Inc. lowered Wipro Limited from a “neutral” rating to a “sell” rating in a report on Thursday, April 21st. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock has a consensus rating of “Sell” and a consensus target price of $12.50.

The company has a market capitalization of $29.35 billion and a price-to-earnings ratio of 22.34. The stock’s 50 day moving average is $12.15 and its 200-day moving average is $11.93.

Wipro Limited (NYSE:WIT) last issued its quarterly earnings data on Wednesday, April 20th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm earned $2.10 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the company posted $9.21 EPS. The company’s revenue was up 12.3% on a year-over-year basis. On average, equities research analysts expect that Wipro Limited will post $0.57 EPS for the current fiscal year.

The firm also recently disclosed a dividend, which was paid on Monday, July 11th. Stockholders of record on Monday, July 11th were issued a dividend of $0.015 per share. The ex-dividend date was Thursday, July 7th.

Several hedge funds have modified their holdings of the stock. Comerica Bank raised its stake in shares of Wipro Limited by 4.7% in the fourth quarter. Comerica Bank now owns 132,668 shares of the company’s stock valued at $1,481,000 after buying an additional 5,998 shares in the last quarter. Sei Investments Co. raised its stake in shares of Wipro Limited by 12.7% in the fourth quarter. Sei Investments Co. now owns 400,024 shares of the company’s stock valued at $4,616,000 after buying an additional 45,199 shares in the last quarter. GAM Holding AG raised its stake in shares of Wipro Limited by 46.3% in the fourth quarter. GAM Holding AG now owns 434,292 shares of the company’s stock valued at $5,012,000 after buying an additional 137,392 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Wipro Limited by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 617,900 shares of the company’s stock valued at $7,131,000 after buying an additional 74,200 shares in the last quarter. Finally, Russell Frank Co raised its stake in shares of Wipro Limited by 7.9% in the fourth quarter. Russell Frank Co now owns 239,457 shares of the company’s stock valued at $2,788,000 after buying an additional 17,500 shares in the last quarter.

Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide.

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