Wipro Limited (NYSE:WIT – Get Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $2.43, but opened at $2.22. Wipro shares last traded at $2.2950, with a volume of 5,375,272 shares traded.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings lowered shares of Wipro from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.
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Wipro Stock Performance
Wipro (NYSE:WIT – Get Free Report) last announced its earnings results on Thursday, April 16th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.65 billion. Wipro had a net margin of 14.25% and a return on equity of 14.97%. Equities research analysts forecast that Wipro Limited will post 0.14 earnings per share for the current year.
Institutional Trading of Wipro
A number of institutional investors have recently bought and sold shares of WIT. rebel Financial LLC bought a new stake in Wipro in the 1st quarter valued at about $25,000. Commonwealth Financial Services LLC bought a new position in Wipro in the 1st quarter valued at approximately $25,000. Interchange Capital Partners LLC acquired a new position in Wipro in the 3rd quarter valued at approximately $27,000. Tanager Wealth Management LLP acquired a new position in Wipro in the 1st quarter valued at approximately $28,000. Finally, Sapient Capital LLC acquired a new position in Wipro in the 4th quarter valued at approximately $29,000. Institutional investors own 2.36% of the company’s stock.
About Wipro
Wipro Limited (NYSE: WIT) is an Indian multinational corporation that provides information technology, consulting and business process services. Headquartered in Bengaluru, India, the company traces its origins to 1945 when it was founded as Western India Vegetable Products and later diversified into technology and IT services. Today Wipro positions itself as a provider of enterprise IT solutions and digital transformation services for large and mid-sized organizations across multiple industries.
The company’s service portfolio includes application development and maintenance, cloud and infrastructure services, data analytics and AI, cybersecurity, digital consulting, product engineering and research and development, as well as business process services.
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