Wipro Limited (NYSE:WIT – Get Rating) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $4.92 and last traded at $4.96, with a volume of 2786455 shares. The stock had previously closed at $5.07.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Morgan Stanley downgraded shares of Wipro from an "overweight" rating to an "underweight" rating in a report on Thursday, July 14th. The Goldman Sachs Group upgraded shares of Wipro from a "sell" rating to a "buy" rating and set a $4.87 target price for the company in a report on Tuesday. They noted that the move was a valuation call. StockNews.com cut shares of Wipro from a "buy" rating to a "hold" rating in a research report on Wednesday, June 29th. Nomura cut shares of Wipro from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 25th. Finally, Jefferies Financial Group cut shares of Wipro from a "hold" rating to an "underperform" rating and reduced their target price for the stock from $7.30 to $4.70 in a research report on Friday, July 8th. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.79.

Wipro Stock Down 2.2 %

The company has a current ratio of 1.95, a quick ratio of 1.94 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $5.22 and a 200-day moving average of $6.12. The firm has a market cap of $27.12 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.10 and a beta of 0.83.

Institutional Trading of Wipro

Large investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. bought a new position in shares of Wipro in the first quarter worth $26,000. Glassman Wealth Services lifted its holdings in Wipro by 66.9% in the fourth quarter. Glassman Wealth Services now owns 3,585 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 1,437 shares during the period. CWM LLC grew its position in Wipro by 111.3% in the 1st quarter. CWM LLC now owns 7,582 shares of the information technology services provider's stock valued at $58,000 after buying an additional 3,994 shares in the last quarter. Lindbrook Capital LLC increased its stake in Wipro by 31.0% during the 1st quarter. Lindbrook Capital LLC now owns 8,000 shares of the information technology services provider's stock valued at $62,000 after buying an additional 1,895 shares during the period. Finally, Deuterium Capital Management LLC acquired a new stake in shares of Wipro in the 2nd quarter worth approximately $53,000. 2.13% of the stock is currently owned by institutional investors and hedge funds.

About Wipro

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Wipro Limited operates as information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). 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.

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