Brokerages Set Wipro Limited (NYSE:WIT) PT at $5.60

Wipro Limited (NYSE:WIT) has earned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $5.60.

WIT has been the topic of a number of recent research reports. Investec lowered Wipro from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th.

Wipro Stock Performance

Shares of WIT stock opened at $6.87 on Monday. The stock’s 50-day moving average price is $6.48 and its 200 day moving average price is $6.06. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $35.89 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 4.61 and a beta of 0.89. Wipro has a 52-week low of $4.49 and a 52-week high of $7.01.

Institutional Investors Weigh In On Wipro

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its stake in shares of Wipro by 11.2% in the first quarter. Sequoia Financial Advisors LLC now owns 177,097 shares of the information technology services provider’s stock valued at $1,018,000 after purchasing an additional 17,899 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Wipro by 65.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,160,285 shares of the information technology services provider’s stock worth $35,422,000 after acquiring an additional 2,437,802 shares during the period. Capstone Investment Advisors LLC increased its stake in Wipro by 20.6% in the 1st quarter. Capstone Investment Advisors LLC now owns 126,735 shares of the information technology services provider’s stock valued at $729,000 after purchasing an additional 21,622 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Wipro during the first quarter worth $206,000. Finally, Signaturefd LLC boosted its position in Wipro by 11.6% during the first quarter. Signaturefd LLC now owns 289,329 shares of the information technology services provider’s stock worth $1,664,000 after purchasing an additional 30,166 shares in the last quarter. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.