Wipro Limited (WIT) Stock Price Up 3.8%
Wipro Limited (NYSE:WIT)’s share price rose 3.8% on Wednesday . The stock traded as high as $11.63 and last traded at $11.46, with a volume of 506,946 shares trading hands. The stock had previously closed at $11.04.
WIT has been the topic of several research analyst reports. Credit Suisse Group AG lowered Wipro Limited from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 20th. Zacks Investment Research raised Wipro Limited from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Saturday, April 2nd. Finally, Citigroup Inc. lowered Wipro Limited from a “neutral” rating to a “sell” rating in a research report on Thursday, April 21st. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock currently has a consensus rating of “Sell” and a consensus price target of $12.50.
The company has a 50-day moving average of $12.06 and a 200-day moving average of $11.92. The company has a market cap of $27.84 billion and a PE ratio of 21.30.
Wipro Limited (NYSE:WIT) last announced its earnings results on Tuesday, July 19th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. The firm earned $2 billion during the quarter, compared to the consensus estimate of $2.02 billion. On average, equities research analysts predict that Wipro Limited will post $0.55 earnings per share for the current fiscal year.
The firm also recently declared a dividend, which was paid on Monday, July 11th. Investors of record on Monday, July 11th were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Thursday, July 7th.
A number of hedge funds and institutional investors have bought and sold shares of WIT. State of New Jersey Common Pension Fund D raised its position in Wipro Limited by 25.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 94,500 shares of the company’s stock valued at $1,090,000 after buying an additional 19,300 shares during the last quarter. Baillie Gifford & Co. raised its position in 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 during the last quarter. GAM Holding AG raised its position in 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 during the last quarter. Comerica Bank raised its position in 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 during the last quarter. Finally, Sei Investments Co. raised its position in 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 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.
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