Weekly Analysts’ Ratings Changes for Wipro (WIT)

Wipro (NYSE: WIT) has recently received a number of price target changes and ratings updates:

  • 10/19/2019 – Wipro was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
  • 10/15/2019 – Wipro was upgraded by analysts at Credit Suisse Group AG from an “underperform” rating to a “neutral” rating.
  • 10/12/2019 – Wipro had its “hold” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
  • 10/5/2019 – Wipro was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
  • 10/3/2019 – Wipro was upgraded by analysts at Goldman Sachs Group Inc from a “sell” rating to a “neutral” rating. They now have a $3.46 price target on the stock, down previously from $3.47.
  • 9/28/2019 – Wipro was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
  • 9/14/2019 – Wipro was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
  • 9/8/2019 – Wipro had its “sell” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “
  • 9/3/2019 – Wipro was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 8/30/2019 – Wipro was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “WIPRO LTD-ADR provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level certified IT Services Company globally. “

WIT stock opened at $3.83 on Friday. The stock has a market capitalization of $22.87 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.50. The company has a current ratio of 2.40, a quick ratio of 2.38 and a debt-to-equity ratio of 0.04. Wipro Limited has a 12 month low of $3.51 and a 12 month high of $4.63. The firm has a 50-day moving average price of $3.70 and a 200-day moving average price of $4.11.

Several hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC bought a new position in Wipro in the 2nd quarter valued at approximately $63,000. Marshall Wace North America L.P. bought a new position in Wipro in the 2nd quarter valued at approximately $829,000. Schroder Investment Management Group raised its holdings in Wipro by 128.3% in the 2nd quarter. Schroder Investment Management Group now owns 3,152,170 shares of the information technology services provider’s stock valued at $13,649,000 after buying an additional 1,771,181 shares during the last quarter. Citadel Advisors LLC bought a new position in Wipro in the 2nd quarter valued at approximately $1,538,000. Finally, Nomura Holdings Inc. acquired a new stake in Wipro during the 2nd quarter valued at approximately $337,000. 2.22% of the stock is owned by hedge funds and other institutional investors.

Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.

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