Wipro (NYSE:WIT) Rating Increased to Buy at StockNews.com

Wipro (NYSE:WIT) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other analysts have also weighed in on the stock. TheStreet upgraded shares of Wipro from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. BNP Paribas started coverage on shares of Wipro in a research note on Wednesday, January 17th. They set an “underperform” rating and a $5.20 price target for the company. Finally, Wedbush boosted their price target 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. Four analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. According to data from MarketBeat, Wipro currently has a consensus rating of “Reduce” and a consensus target price of $5.05.

Wipro Stock Performance

NYSE:WIT opened at $5.26 on Tuesday. The company has a fifty day moving average of $5.94 and a 200-day moving average of $5.40. The firm has a market capitalization of $27.42 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.15 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 twelve month low of $4.32 and a twelve month high of $6.45.

Institutional Trading of Wipro

A number of hedge funds and other institutional investors have recently bought and sold shares of WIT. Janiczek Wealth Management LLC grew its stake in shares of Wipro by 9.7% in the 1st quarter. Janiczek Wealth Management LLC now owns 115,949 shares of the information technology services provider’s stock worth $667,000 after acquiring an additional 10,242 shares in the last quarter. DGS Capital Management LLC grew its stake in shares of Wipro by 10.1% in the 1st quarter. DGS Capital Management LLC now owns 154,646 shares of the information technology services provider’s stock worth $889,000 after acquiring an additional 14,155 shares in the last quarter. Cherrydale Wealth Management LLC grew its stake in shares of Wipro by 14.2% in the 1st quarter. Cherrydale Wealth Management LLC now owns 20,756 shares of the information technology services provider’s stock worth $119,000 after acquiring an additional 2,588 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Wipro by 22.2% in the 1st quarter. Ballentine Partners LLC now owns 227,698 shares of the information technology services provider’s stock worth $1,309,000 after acquiring an additional 41,342 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Wipro by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 5,797 shares of the information technology services provider’s stock worth $33,000 after acquiring an additional 1,858 shares in the last quarter. Institutional investors 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.