WIT has been the subject of several other research reports. Zacks Investment Research downgraded Wipro Limited from a hold rating to a sell rating in a report on Thursday, June 9th. Wedbush assumed coverage on Wipro Limited in a report on Thursday, September 8th. They set an underperform rating and a $8.50 price target for the company. Finally, HSBC downgraded Wipro Limited from a hold rating to a reduce rating in a report on Tuesday, August 9th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $11.17.
Shares of Wipro Limited (NYSE:WIT) opened at 9.81 on Friday. The stock’s 50 day moving average price is $10.54 and its 200-day moving average price is $11.71. The firm has a market cap of $24.10 billion, a P/E ratio of 18.51 and a beta of 1.19. Wipro Limited has a 12-month low of $9.69 and a 12-month high of $13.08.
Wipro Limited (NYSE:WIT) last issued its earnings results on Tuesday, July 19th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. The firm earned $2 billion during the quarter, compared to the consensus estimate of $2.02 billion. On average, analysts predict that Wipro Limited will post $0.55 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Wipro Limited by 6.1% in the second quarter. Royal Bank of Canada now owns 1,112,035 shares of the company’s stock valued at $13,744,000 after buying an additional 63,474 shares during the last quarter. AQR Capital Management LLC increased its position in Wipro Limited by 2.3% in the second quarter. AQR Capital Management LLC now owns 6,509,182 shares of the company’s stock valued at $80,453,000 after buying an additional 146,062 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Wipro Limited by 13.6% in the second quarter. Parametric Portfolio Associates LLC now owns 278,323 shares of the company’s stock valued at $3,440,000 after buying an additional 33,287 shares during the last quarter. Citadel Advisors LLC purchased a new position in Wipro Limited during the second quarter valued at $200,000. Finally, State Street Corp increased its position in Wipro Limited by 12.1% in the second quarter. State Street Corp now owns 2,524,596 shares of the company’s stock valued at $31,204,000 after buying an additional 272,145 shares during the last quarter.
Wipro Limited Company Profile
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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