Wipro Limited (NYSE:WIT – Get Rating)'s stock price reached a new 52-week low on Thursday . The company traded as low as $4.85 and last traded at $4.86, with a volume of 10758 shares changing hands. The stock had previously closed at $4.91.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Wipro from a "sell" rating to a "buy" rating and set a $4.87 price target on the stock in a report on Tuesday, September 13th. They noted that the move was a valuation call. Morgan Stanley lowered shares of Wipro from an "overweight" rating to an "underweight" rating in a research report on Thursday, July 14th. StockNews.com lowered shares of Wipro from a "buy" rating to a "hold" rating in a research report on Wednesday, June 29th. Macquarie raised shares of Wipro from a "neutral" rating to an "outperform" rating in a research report on Wednesday, June 1st. Finally, Wedbush reissued an "underperform" rating on shares of Wipro in a research report on Wednesday, July 20th. Five analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.79.
Get Wipro alerts:Wipro Stock Down 1.6 %
The business's 50 day moving average price is $5.20 and its 200 day moving average price is $6.05. The firm has a market cap of $26.41 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.05 and a beta of 0.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.94 and a current ratio of 1.95.
Wipro (NYSE:WIT – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). Wipro had a net margin of 14.06% and a return on equity of 17.66%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.75 billion. On average, equities analysts forecast that Wipro Limited will post 0.27 EPS for the current year.Institutional Investors Weigh In On Wipro
A number of institutional investors have recently added to or reduced their stakes in the stock. Amundi boosted its stake in Wipro by 15.8% during the 2nd quarter. Amundi now owns 411,661 shares of the information technology services provider's stock worth $2,062,000 after purchasing an additional 56,100 shares during the last quarter. Nomura Holdings Inc. raised its holdings in shares of Wipro by 50.1% during the 2nd quarter. Nomura Holdings Inc. now owns 299,496 shares of the information technology services provider's stock worth $1,599,000 after acquiring an additional 100,000 shares during the period. SVB Wealth LLC raised its holdings in shares of Wipro by 43.8% during the 2nd quarter. SVB Wealth LLC now owns 19,609 shares of the information technology services provider's stock worth $104,000 after acquiring an additional 5,972 shares during the period. Creative Planning raised its holdings in shares of Wipro by 14.0% during the 2nd quarter. Creative Planning now owns 55,605 shares of the information technology services provider's stock worth $295,000 after acquiring an additional 6,843 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Wipro by 48.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 334,300 shares of the information technology services provider's stock worth $1,775,000 after acquiring an additional 108,500 shares during the period. Institutional investors and hedge funds own 2.13% of the company's stock.
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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