Shares of Wipro Ltd. (NYSE:WIT) have earned an average rating of “Hold” from the eight brokerages that are presently covering the company. Four analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.75.
A number of equities research analysts have recently issued reports on WIT shares. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. HSBC lowered shares of Wipro from a “hold” rating to a “reduce” rating in a report on Tuesday, August 9th. Wedbush started coverage on shares of Wipro in a report on Thursday, September 8th. They set an “underperform” rating and a $8.50 target price for the company. Finally, TheStreet lowered shares of Wipro from a “buy” rating to a “hold” rating in a report on Friday, September 16th.
Wipro (NYSE:WIT) opened at 9.99 on Friday. The stock has a market cap of $24.54 billion, a P/E ratio of 18.74 and a beta of 1.06. Wipro has a 52-week low of $9.63 and a 52-week high of $13.08. The firm’s 50-day moving average is $9.88 and its 200-day moving average is $11.38.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Wipro by 53.7% in the first quarter. BlackRock Inc. now owns 255,480 shares of the company’s stock worth $3,213,000 after buying an additional 89,235 shares in the last quarter. State Street Corp boosted its stake in Wipro by 6.8% in the first quarter. State Street Corp now owns 2,252,451 shares of the company’s stock worth $28,332,000 after buying an additional 144,090 shares in the last quarter. UBS Group AG boosted its stake in Wipro by 27.6% in the first quarter. UBS Group AG now owns 60,308 shares of the company’s stock worth $758,000 after buying an additional 13,032 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Wipro by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 187,392 shares of the company’s stock worth $2,357,000 after buying an additional 10,223 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in Wipro during the first quarter worth approximately $382,000. Hedge funds and other institutional investors own 2.37% of the company’s stock.
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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