Wipro Ltd. (NYSE:WIT) has received an average rating of “Hold” from the eight ratings firms that are presently covering the firm. Four analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $9.75.

WIT has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Wipro from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. TheStreet downgraded shares of Wipro from a “buy” rating to a “hold” rating in a research report on Friday, September 16th. HSBC downgraded shares of Wipro from a “hold” rating to a “reduce” rating in a research report on Tuesday, August 9th. Finally, Wedbush started coverage on shares of Wipro in a research report on Thursday, September 8th. They issued an “underperform” rating and a $8.50 target price on the stock.

A number of hedge funds have recently made changes to their positions in the stock. Mizuho Trust & Banking Co. Ltd. increased its stake in shares of Wipro by 21.7% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 8,696 shares of the company’s stock valued at $107,000 after buying an additional 1,552 shares during the period. Atria Investments LLC purchased a new stake in shares of Wipro during the third quarter valued at approximately $113,000. MSI Financial Services Inc increased its stake in shares of Wipro by 33.8% in the third quarter. MSI Financial Services Inc now owns 13,237 shares of the company’s stock valued at $129,000 after buying an additional 3,343 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Wipro during the second quarter valued at approximately $200,000. Finally, US Bancorp DE increased its stake in shares of Wipro by 37.2% in the second quarter. US Bancorp DE now owns 24,538 shares of the company’s stock valued at $303,000 after buying an additional 6,659 shares during the period. 2.37% of the stock is currently owned by institutional investors.

Shares of Wipro (NYSE:WIT) traded down 1.41% during mid-day trading on Friday, reaching $9.77. 493,567 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $9.92 and its 200-day moving average price is $11.45. Wipro has a 12-month low of $9.63 and a 12-month high of $13.08. The stock has a market cap of $24.00 billion, a price-to-earnings ratio of 18.33 and a beta of 1.06.

Wipro (NYSE:WIT) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Wipro had a net margin of 16.64% and a return on equity of 18.90%. Equities research analysts forecast that Wipro will post $0.55 earnings per share for the current year.

About Wipro

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.

5 Day Chart for NYSE:WIT

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