Wipro (NYSE:WIT) Given Hold (C) Rating at Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of Wipro (NYSE:WIT) in a research note released on Thursday morning,Weiss Ratings reports.

Separately, CLSA downgraded Wipro from an “outperform” rating to a “hold” rating in a report on Monday, October 20th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Wipro currently has an average rating of “Reduce”.

Wipro Trading Down 0.2%

Shares of WIT stock opened at $2.67 on Thursday. The company has a market cap of $27.90 billion, a PE ratio of 17.77, a PEG ratio of 16.16 and a beta of 1.00. The business’s fifty day simple moving average is $2.72 and its 200-day simple moving average is $2.83. Wipro has a 12-month low of $2.58 and a 12-month high of $3.79.

Wipro (NYSE:WIT) last issued its quarterly earnings results on Thursday, October 16th. The information technology services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $224.40 billion. Wipro had a return on equity of 15.80% and a net margin of 15.06%. On average, equities analysts forecast that Wipro will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Wipro

Hedge funds have recently made changes to their positions in the company. Walkner Condon Financial Advisors LLC acquired a new position in shares of Wipro in the 3rd quarter valued at $27,000. Vest Financial LLC acquired a new stake in Wipro during the 2nd quarter worth about $31,000. Curi Capital LLC acquired a new stake in Wipro during the 2nd quarter worth about $31,000. Hamilton Capital LLC acquired a new stake in Wipro during the 1st quarter worth about $32,000. Finally, Atlas Legacy Advisors LLC acquired a new stake in Wipro during the 3rd quarter worth about $37,000. 2.36% of the stock is owned by institutional investors and hedge funds.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. 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.