Wipro (NYSE:WIT) Upgraded at StockNews.com

StockNews.com upgraded shares of Wipro (NYSE:WIT) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently issued reports on the stock. Wedbush boosted their target price on shares of Wipro from $4.00 to $6.00 and gave the company an underperform rating in a research note on Tuesday, January 16th. BNP Paribas began coverage on shares of Wipro in a report on Wednesday, January 17th. They set an underperform rating and a $5.20 target price for the company. Finally, TheStreet raised shares of Wipro from a c+ rating to a b- rating in a research report on Friday, January 12th. Four investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Reduce and an average price target of $5.05.

Wipro Stock Down 1.7 %

WIT stock opened at $5.16 on Tuesday. The firm has a 50 day moving average of $5.92 and a 200 day moving average of $5.39. The stock has a market capitalization of $26.92 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 2.13 and a beta of 0.87. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. Wipro has a 52 week low of $4.32 and a 52 week high of $6.45.

Institutional Trading of Wipro

Hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. acquired a new stake in shares of Wipro during the first quarter worth about $26,000. GAMMA Investing LLC lifted its holdings in shares of Wipro by 47.2% during the first quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock worth $33,000 after purchasing an additional 1,858 shares during the period. AlphaQ Advisors LLC acquired a new stake in shares of Wipro during the third quarter worth $48,000. Marks Group Wealth Management Inc acquired a new stake in Wipro in the third quarter valued at $49,000. Finally, Enterprise Financial Services Corp purchased a new position in shares of Wipro in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

About Wipro

Wipro Limited operates as an 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.