A number of research analysts recently commented on WIT shares. Conning Inc. acquired a new position in shares of Wipro Limited during the second quarter valued at $104,000. The stock now has Weekly Volatility of 1.51% and Monthly Volatility of 2.23%. LSV Asset Management now owns 591,700 shares of the information technology services provider's stock valued at $6,053,000 after buying an additional 434,100 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Wipro Limited by 826.0% in the first quarter. Atria Investments LLC now owns 15,361 shares of the information technology services provider's stock valued at $157,000 after buying an additional 151 shares during the last quarter. Highbridge Capital Management LLC now owns 41,915 shares of the information technology services provider's stock valued at $406,000 after buying an additional 315 shares during the last quarter. About shares traded. Wipro Limited (ADR) (NYSE:WIT) has declined 11.96% since August 17, 2016 and is downtrending. Its book value per share for the most recent quarter is $1.74 while its price to book ratio for the same period is 3.5, as for as the company's cash per share for the most recent quarter is $1.65, however its price to cash per share ratio for the same period is 3.69. Wipro Limited has a 52-week low of $4.50 and a 52-week high of $6.40. The company has a 50-day moving average of $5.74 and a 200-day moving average of $5.19. The company has a market cap of $29.66 billion, a P/E ratio of 22.37 and a beta of 0.87.
Wipro Limited (NYSE:WIT) last issued its quarterly earnings data on Thursday, July 20th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Wipro Limited had a return on equity of 16.53% and a net margin of 15.46%. Equities analysts predict that Wipro Limited will post $0.27 earnings per share for the current year.
Wipro Limited announced that its board has approved a stock buyback plan on Thursday, July 20th that permits the company to repurchase $1.70 billion in shares. This repurchase authorization allows the information technology services provider to reacquire up to 6.1% of its stock through a tender offer. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
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WIT has been the subject of several research reports. Zacks Investment Research downgraded Wipro Limited from a "hold" rating to a "sell" rating in a report on Friday, April 28th. Jefferies Group LLC lowered shares of Wipro Limited from a "hold" rating to an "underperform" rating in a research report on Tuesday, June 6th. Finally, Bank of America Corporation increased their price objective on shares of Wipro Limited from $250.00 to $277.00 and gave the stock a "neutral" rating in a research note on Friday, July 21st.
In terms of Buy, Sell or Hold recommendations, Wipro Ltd (NYSE:WIT) has analysts' mean recommendation of 3.7.
Taking a broader look brokerage firms' analysts on the street with an expectant view have Wipro Ltd (NYSE:WIT) high price target of $5.8 and with a conservative view have low price target of $4.25. The Company's IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.
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