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Principale » Wipro Limited (WIT) Sees Large Decrease in Short Interest

Wipro Limited (WIT) Sees Large Decrease in Short Interest

19 Août 2017

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.

Wipro Limited (WIT) Sees Large Decrease in Short Interest