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

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

A number of analysts recently commented on the company. Wedbush lifted their price objective on Wipro from $4.00 to $6.00 and gave the stock an “underperform” rating in a research report on Tuesday, January 16th. StockNews.com cut shares of Wipro from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. BNP Paribas assumed coverage on shares of Wipro in a report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 price objective on the stock. Finally, TheStreet raised shares of Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th.

Institutional Investors Weigh In On Wipro

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Wipro by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,472,687 shares of the information technology services provider’s stock valued at $60,368,000 after buying an additional 553,433 shares during the period. Acadian Asset Management LLC grew its stake in Wipro by 50.1% in the third quarter. Acadian Asset Management LLC now owns 6,786,259 shares of the information technology services provider’s stock valued at $32,837,000 after acquiring an additional 2,265,859 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Wipro by 65.5% in the first quarter. BNP Paribas Financial Markets now owns 6,160,285 shares of the information technology services provider’s stock worth $35,422,000 after acquiring an additional 2,437,802 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Wipro by 3.8% during the fourth quarter. Fisher Asset Management LLC now owns 2,313,160 shares of the information technology services provider’s stock worth $12,884,000 after purchasing an additional 84,519 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Wipro by 4.7% during 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 purchasing an additional 86,226 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Wipro Stock Down 0.2 %

NYSE WIT opened at $5.38 on Thursday. The stock has a market capitalization of $28.08 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 2.18 and a beta of 0.87. Wipro has a 52 week low of $4.48 and a 52 week high of $6.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.28 and a current ratio of 2.29. The stock has a fifty day moving average of $5.79 and a 200-day moving average of $5.43.

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.