Wipro Limited (NYSE:WIT) Receives $5.05 Average Target Price from Analysts

Shares of Wipro Limited (NYSE:WIT) have been assigned a consensus recommendation of “Strong Sell” from the four ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $5.05.

WIT has been the topic of several research analyst reports. BNP Paribas assumed coverage on Wipro in a research note on Wednesday, January 17th. They set an “underperform” rating and a $5.20 target price on the stock. StockNews.com cut Wipro from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet raised shares of Wipro from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Finally, Wedbush boosted their price objective on Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a research report on Tuesday, January 16th.

Wipro Stock Performance

Shares of WIT stock opened at $5.46 on Thursday. The stock’s fifty day simple moving average is $5.84 and its 200-day simple moving average is $5.42. The company has a market capitalization of $28.49 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 2.18 and a beta of 0.87. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. Wipro has a 1-year low of $4.48 and a 1-year high of $6.45.

Institutional Investors Weigh In On Wipro

Hedge funds and other institutional investors have recently bought and sold shares of the business. Deutsche Bank AG grew its holdings in shares of Wipro by 25.8% during the third quarter. Deutsche Bank AG now owns 1,908,734 shares of the information technology services provider’s stock worth $9,238,000 after purchasing an additional 390,947 shares during the last quarter. Vanguard Group Inc. grew its holdings in Wipro by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock worth $60,368,000 after acquiring an additional 553,433 shares during the last quarter. Rhumbline Advisers increased its position in Wipro by 4.7% in the 3rd quarter. Rhumbline Advisers now owns 1,930,460 shares of the information technology services provider’s stock valued at $9,343,000 after acquiring an additional 86,226 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Wipro by 63.1% during the fourth quarter. Blue Trust Inc. now owns 22,312 shares of the information technology services provider’s stock worth $124,000 after purchasing an additional 8,634 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Wipro by 2,845,900.0% during the third quarter. Barclays PLC now owns 369,980 shares of the information technology services provider’s stock valued at $1,790,000 after purchasing an additional 369,967 shares during the last quarter. 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 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.