Wipro (NYSE:WIT) Research Coverage Started at Nomura

Stock analysts at Nomura assumed coverage on shares of Wipro (NYSE:WIT) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating on the information technology services provider’s stock.

Separately, StockNews.com raised shares of Wipro from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Three analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.30.

Wipro Stock Down 0.4 %

Shares of Wipro stock opened at $6.40 on Tuesday. The company has a current ratio of 2.58, a quick ratio of 2.57 and a debt-to-equity ratio of 0.08. Wipro has a 12-month low of $4.48 and a 12-month high of $6.45. The company has a market cap of $33.38 billion, a P/E ratio of 25.58, a PEG ratio of 4.20 and a beta of 0.90. The company’s fifty day simple moving average is $5.54 and its two-hundred day simple moving average is $5.69.

Wipro (NYSE:WIT) last announced its earnings results on Friday, April 19th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Wipro had a return on equity of 15.60% and a net margin of 12.29%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. Research analysts anticipate that Wipro will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Wipro

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings 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 purchasing an additional 1,858 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Wipro in the 1st quarter worth about $60,000. Intelligence Driven Advisers LLC bought a new position in Wipro during the 4th quarter valued at about $61,000. Essex Savings Bank purchased a new stake in shares of Wipro during the 4th quarter valued at about $67,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in shares of Wipro in the fourth quarter worth approximately $72,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wipro Company Profile

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.