Wipro Limited (NYSE:WIT) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $141.50.

A number of equities research analysts have issued reports on the company. Bank of America Corporation increased their price target on Wipro Limited from $250.00 to $277.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Zacks Investment Research lowered Wipro Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) lowered Wipro Limited from a “neutral” rating to a “sell” rating in a research note on Sunday, September 17th. BidaskClub upgraded Wipro Limited from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Finally, BNP Paribas lowered Wipro Limited from a “hold” rating to a “reduce” rating in a research note on Thursday, September 14th.

ILLEGAL ACTIVITY NOTICE: “Wipro Limited (WIT) Receives Consensus Recommendation of “Hold” from Brokerages” was originally posted by Daily Political and is the property of of Daily Political. If you are viewing this news story on another domain, it was stolen and republished in violation of U.S. and international copyright laws. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/11/12/wipro-limited-wit-receives-consensus-recommendation-of-hold-from-brokerages.html.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Wipro Limited by 112.3% during the second quarter. BlackRock Inc. now owns 17,915,466 shares of the information technology services provider’s stock valued at $93,159,000 after purchasing an additional 9,475,887 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Wipro Limited by 108.9% during the second quarter. Vanguard Group Inc. now owns 13,490,025 shares of the information technology services provider’s stock valued at $70,148,000 after purchasing an additional 7,030,846 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of Wipro Limited by 100.1% during the second quarter. Commonwealth Bank of Australia now owns 8,822,315 shares of the information technology services provider’s stock valued at $45,875,000 after purchasing an additional 4,412,296 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Wipro Limited by 52.7% during the second quarter. Nordea Investment Management AB now owns 7,072,417 shares of the information technology services provider’s stock valued at $36,777,000 after purchasing an additional 2,441,298 shares in the last quarter. Finally, State Street Corp grew its position in shares of Wipro Limited by 131.7% during the second quarter. State Street Corp now owns 5,965,542 shares of the information technology services provider’s stock valued at $31,022,000 after purchasing an additional 3,390,392 shares in the last quarter. Hedge funds and other institutional investors own 2.50% of the company’s stock.

Shares of Wipro Limited (NYSE:WIT) traded down $0.04 during mid-day trading on Friday, reaching $5.03. The company’s stock had a trading volume of 860,400 shares, compared to its average volume of 1,776,362. Wipro Limited has a 1-year low of $4.50 and a 1-year high of $6.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.53 and a quick ratio of 2.52. The stock has a market cap of $24,454.85, a price-to-earnings ratio of 18.29, a PEG ratio of 2.33 and a beta of 0.73.

Wipro Limited (NYSE:WIT) last issued its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Wipro Limited had a return on equity of 16.14% and a net margin of 15.77%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.17 billion. equities analysts anticipate that Wipro Limited will post 0.27 earnings per share for the current fiscal year.

Wipro Limited declared that its Board of Directors has authorized a share buyback plan on Thursday, July 20th that permits the company to buyback $1.70 billion in shares. This buyback authorization permits the information technology services provider to reacquire up to 6.1% of its stock through a tender offer. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.

Receive News & Ratings for Wipro Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wipro Limited and related companies with MarketBeat.com's FREE daily email newsletter.