Wipro Limited (WIT) Sees Large Volume Increase
Wipro Limited (NYSE:WIT) shares saw unusually-high trading volume on Tuesday . Approximately 457,190 shares traded hands during trading, a decline of 1% from the previous session’s volume of 460,273 shares.The stock last traded at $11.35 and had previously closed at $11.85.
WIT has been the subject of a number of analyst reports. Zacks Investment Research raised Wipro Limited from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Saturday, April 2nd. Credit Suisse Group AG cut Wipro Limited from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 20th. Finally, Citigroup Inc. cut Wipro Limited from a “neutral” rating to a “sell” rating in a research note on Thursday, April 21st. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Wipro Limited presently has a consensus rating of “Sell” and a consensus price target of $12.50.
The firm has a 50-day moving average of $12.14 and a 200-day moving average of $11.94. The firm has a market cap of $27.11 billion and a PE ratio of 20.48.
Wipro Limited (NYSE:WIT) last released its earnings results on Tuesday, July 19th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.02. The business earned $2 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Equities research analysts predict that Wipro Limited will post $0.57 EPS for the current year.
The business also recently disclosed a dividend, which was paid on Monday, July 11th. Investors of record on Monday, July 11th were issued a $0.015 dividend. The ex-dividend date was Thursday, July 7th.
A number of hedge funds recently bought and sold shares of WIT. Russell Frank Co increased its stake in Wipro Limited by 7.9% in the fourth quarter. Russell Frank Co now owns 239,457 shares of the company’s stock worth $2,788,000 after buying an additional 17,500 shares during the last quarter. Sei Investments Co. increased its stake in Wipro Limited by 12.7% in the fourth quarter. Sei Investments Co. now owns 400,024 shares of the company’s stock worth $4,616,000 after buying an additional 45,199 shares during the last quarter. Comerica Bank increased its stake in Wipro Limited by 4.7% in the fourth quarter. Comerica Bank now owns 132,668 shares of the company’s stock worth $1,481,000 after buying an additional 5,998 shares during the last quarter. GAM Holding AG increased its stake in Wipro Limited by 46.3% in the fourth quarter. GAM Holding AG now owns 434,292 shares of the company’s stock worth $5,012,000 after buying an additional 137,392 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in Wipro Limited by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 617,900 shares of the company’s stock worth $7,131,000 after buying an additional 74,200 shares during 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.