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Wipro Lifted To “Hold” At ValuEngine

ValuEngine upgraded shares of Wipro from a sell rating to a hold rating in a research report sent to investors on Thursday.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Wipro from a hold rating to a sell rating in a research report on Tuesday, September 11th. CLSA downgraded Wipro from an underperform rating to a sell rating in a research report on Tuesday, July 24th. TheStreet raised Wipro from a c+ rating to a b- rating in a research report on Monday, August 6th. Nomura raised Wipro from a reduce rating to a neutral rating in a research report on Tuesday, June 26th. Finally, Jefferies Financial Group began coverage on Wipro in a research report on Wednesday, June 20th. They set an underperform rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $6.00.

Shares of WIT opened at $5.05 on Thursday. The stock has a market cap of $23.45 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.67 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.51 and a current ratio of 2.53. Wipro has a fifty-two week low of $4.50 and a fifty-two week high of $5.99.

Wipro last announced its quarterly earnings results on Friday, July 20th. The information technology services provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.10 billion. Wipro had a return on equity of 15.89% and a net margin of 14.66%. On average, analysts expect that Wipro will post 0.28 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Nova Scotia purchased a new stake in shares of Wipro during the 2nd quarter worth about $275,000. CSat Investment Advisory L.P. purchased a new stake in shares of Wipro during the 2nd quarter worth about $1,690,000. Renaissance Technologies LLC boosted its stake in shares of Wipro by 24.9% during the 2nd quarter. Renaissance Technologies LLC now owns 627,300 shares of the information technology services provider’s stock worth $3,005,000 after acquiring an additional 125,000 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Wipro by 9.0% during the 2nd quarter. BlackRock Inc. now owns 22,038,581 shares of the information technology services provider’s stock worth $105,564,000 after acquiring an additional 1,812,203 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Wipro by 165.9% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,605 shares of the information technology services provider’s stock worth $127,000 after acquiring an additional 16,600 shares in the last quarter. 2.37% of the stock is currently owned by institutional investors. – Fairfield Current

 

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