Shares of Wipro Limited (NYSE:WIT) have been given a consensus recommendation of “Hold” by the ten brokerages that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Wipro from a “hold” rating to a “sell” rating in a research report on Saturday, November 17th. TheStreet downgraded shares of Wipro from a “b-” rating to a “c” rating in a research report on Wednesday, October 24th. ValuEngine upgraded shares of Wipro from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Credit Suisse Group upgraded shares of Wipro from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 13th. Finally, Macquarie upgraded shares of Wipro from a “neutral” rating to an “outperform” rating in a research report on Monday, September 10th.

A number of large investors have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Wipro by 165.9% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,605 shares of the information technology services provider’s stock valued at $127,000 after purchasing an additional 16,600 shares during the last quarter. Royal Bank of Canada lifted its holdings in Wipro by 7,144.0% during the 1st quarter. Royal Bank of Canada now owns 26,513 shares of the information technology services provider’s stock valued at $137,000 after purchasing an additional 26,147 shares during the last quarter. Greenleaf Trust lifted its holdings in Wipro by 78.5% during the 3rd quarter. Greenleaf Trust now owns 33,808 shares of the information technology services provider’s stock valued at $176,000 after purchasing an additional 14,863 shares during the last quarter. Trexquant Investment LP acquired a new stake in Wipro during the 3rd quarter valued at $186,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Wipro during the 3rd quarter valued at $213,000. Hedge funds and other institutional investors own 2.24% of the company’s stock.

Shares of WIT stock opened at $5.12 on Thursday. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 2.63 and a beta of 0.48. The company has a quick ratio of 2.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10. Wipro has a 1-year low of $4.50 and a 1-year high of $5.99.

Wipro (NYSE:WIT) last posted its quarterly earnings results on Wednesday, October 24th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). Wipro had a return on equity of 15.63% and a net margin of 13.84%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.14 billion. Equities analysts forecast that Wipro will post 0.27 earnings per share for the current fiscal year.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.

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Analyst Recommendations for Wipro (NYSE:WIT)

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