StockNews.com Downgrades Wipro (NYSE:WIT) to Hold

Wipro (NYSE:WIT - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Friday.

Several other research analysts also recently issued reports on the stock. UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wipro presently has a consensus rating of "Hold".

Get Our Latest Analysis on WIT

Wipro Stock Down 0.9 %

Shares of WIT traded down $0.03 during midday trading on Friday, hitting $2.71. The company had a trading volume of 5,394,346 shares, compared to its average volume of 5,057,503. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. Wipro has a 1 year low of $2.55 and a 1 year high of $3.79. The firm has a market capitalization of $28.29 billion, a P/E ratio of 18.66, a P/E/G ratio of 3.08 and a beta of 0.96. The company's 50-day simple moving average is $3.14 and its 200-day simple moving average is $4.52.

Wipro (NYSE:WIT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. Wipro had a return on equity of 15.46% and a net margin of 13.96%. As a group, sell-side analysts expect that Wipro will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Wipro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC increased its holdings in Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after buying an additional 3,557 shares during the last quarter. Bell Investment Advisors Inc raised its stake in shares of Wipro by 100.0% during the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 3,631 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Wipro in the 4th quarter worth approximately $29,000. Farther Finance Advisors LLC boosted its holdings in shares of Wipro by 148.3% in the fourth quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 4,851 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Wipro during the fourth quarter worth approximately $35,000. 2.36% of the stock is currently owned by institutional investors and hedge funds.

Wipro Company Profile

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.

Featured Stories

• Five stocks we like better than Wipro
• 3 Home Improvement Stocks that Can Upgrade Your Portfolio
• 3 Mid-Cap to Mega-Cap Stocks Have Announced Significant Buybacks
• What is a Stock Market Index and How Do You Use Them?
• These 3 Stocks Have Huge Last 12 Months Shareholder Yields
• The Role Economic Reports Play in a Successful Investment Strategy
• Prominent Hedge Fund Acquires Huge Stake in HPE: Is It a Buy Now?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Wipro Right Now?

Before you consider Wipro, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wipro wasn't on the list.

While Wipro currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here