Wipro Limited (WIT) Trading Up 3.8%
Wipro Limited (NYSE:WIT) shares were up 3.8% during trading on Wednesday . The stock traded as high as $11.63 and last traded at $11.46, with a volume of 506,946 shares. The stock had previously closed at $11.04.
Several research analysts have commented on WIT shares. Credit Suisse Group AG downgraded 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 target price for the company in a research note on Saturday, April 2nd. Finally, Citigroup Inc. downgraded Wipro Limited from a “neutral” rating to a “sell” rating in a research note on Thursday, April 21st. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. Wipro Limited currently has an average rating of “Sell” and an average price target of $12.50.
The stock has a market cap of $28.17 billion and a P/E ratio of 21.28. The firm has a 50 day moving average of $12.10 and a 200-day moving average of $11.93.
Wipro Limited (NYSE:WIT) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. The firm earned $2 billion during the quarter, compared to analysts’ expectations of $2.02 billion. On average, equities analysts anticipate that Wipro Limited will post $0.57 EPS for the current year.
The firm also recently disclosed a dividend, which was paid on Monday, July 11th. Stockholders of record on Monday, July 11th were given a $0.015 dividend. The ex-dividend date of this dividend was Thursday, July 7th.
Several large investors have modified their holdings of WIT. State of New Jersey Common Pension Fund D raised its stake in shares of 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 worth $1,090,000 after buying an additional 19,300 shares in the last quarter. Baillie Gifford & Co. raised 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 valued at $7,131,000 after buying an additional 74,200 shares in the last quarter. GAM Holding AG raised 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 valued at $5,012,000 after buying an additional 137,392 shares in the last quarter. Comerica Bank raised its stake 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 in the last quarter. Finally, Sei Investments Co. raised 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 valued at $4,616,000 after buying an additional 45,199 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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