BidaskClub upgraded shares of Wipro Limited (NYSE:WIT) from a hold rating to a buy rating in a research report released on Wednesday.

WIT has been the topic of several other research reports. TheStreet raised Wipro Limited from a c+ rating to a b- rating in a research note on Friday, March 17th. Zacks Investment Research raised Wipro Limited from a sell rating to a hold rating in a research note on Wednesday, June 28th. Finally, Jefferies Group LLC lowered Wipro Limited from a hold rating to an underperform rating in a research note on Tuesday, June 6th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $4.25.

Shares of Wipro Limited (NYSE WIT) opened at 5.16 on Wednesday. The company has a market capitalization of $24.95 billion, a P/E ratio of 19.18 and a beta of 0.83. The company has a 50 day moving average price of $5.20 and a 200 day moving average price of $4.96. Wipro Limited has a 12-month low of $4.50 and a 12-month high of $6.24.

Wipro Limited (NYSE:WIT) last posted its earnings results on Tuesday, April 25th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Wipro Limited had a return on equity of 16.91% and a net margin of 15.42%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.06 billion. Equities analysts anticipate that Wipro Limited will post $0.26 EPS for the current year.

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Large investors have recently bought and sold shares of the stock. Atria Investments LLC raised its stake in Wipro Limited by 1.0% in the first quarter. Atria Investments LLC now owns 15,361 shares of the information technology services provider’s stock worth $157,000 after buying an additional 151 shares in the last quarter. Highbridge Capital Management LLC raised its stake in Wipro Limited by 0.8% in the fourth quarter. Highbridge Capital Management LLC now owns 41,915 shares of the information technology services provider’s stock worth $406,000 after buying an additional 315 shares in the last quarter. Fulton Bank N.A. raised its stake in Wipro Limited by 2.5% in the first quarter. Fulton Bank N.A. now owns 34,709 shares of the information technology services provider’s stock worth $355,000 after buying an additional 858 shares in the last quarter. Comerica Bank raised its stake in Wipro Limited by 1.1% in the first quarter. Comerica Bank now owns 139,602 shares of the information technology services provider’s stock worth $1,372,000 after buying an additional 1,477 shares in the last quarter. Finally, World Asset Management Inc raised its stake in Wipro Limited by 1.1% in the first quarter. World Asset Management Inc now owns 151,892 shares of the information technology services provider’s stock worth $1,554,000 after buying an additional 1,651 shares in the last quarter. 1.25% of the stock is currently owned by institutional investors.

Wipro Limited Company Profile

Wipro Limited (Wipro) is a global information technology (IT) services provider. It 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 digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.

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