Wipro Limited [NYSE: WIT] stock went on an upward path that rose over 1.82% on Wednesday, amounting to a one-week price increase of more than 3.72%. The company report on December 10, 2020 that Wipro and LogiNext Partner to Launch Integrated Logistics Platform.
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, and LogiNext, a fast-growing technology company on a mission to optimize and automate the world of logistics, announced a partnership.
Wipro will integrate its offerings with LogiNext platform to deliver an end-to-end solution for supply chain customers.
Over the last 12 months, WIT stock rose by 46.07%. The one-year Wipro Limited stock forecast points to a potential downside of -13.18. The average equity rating for WIT stock is currently 4.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $28.52 billion, with 5.69 billion shares outstanding and 1.69 billion shares in the current float. Compared to the average trading volume of 1.66M shares, WIT stock reached a trading volume of 2002376 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Wipro Limited [WIT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WIT shares is $4.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WIT stock is a recommendation set at 4.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Wipro Limited shares, keeping their opinion on the stock as Sell, with their previous recommendation back on December 21, 2020. The new note on the price target was released on October 14, 2020, representing the official price target for Wipro Limited stock.
The Average True Range (ATR) for Wipro Limited is set at 0.14, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 3.43. The Price to Book ratio for the last quarter was 3.82, with the Price to Cash per share for the same quarter was set at 1.09. Price to Free Cash Flow for WIT in the course of the last twelve months was 20.05 with Quick ratio for the last quarter at 2.60.
WIT Stock Performance Analysis:
Wipro Limited [WIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.72. With this latest performance, WIT shares gained by 8.98% in over the last four-week period, additionally plugging by 71.17% over the last 6 months – not to mention a rise of 46.07% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WIT stock in for the last two-week period is set at 64.85, with the RSI for the last a single of trading hit 67.18, and the three-weeks RSI is set at 63.19 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 5.13, while it was recorded at 5.43 for the last single week of trading, and 4.03 for the last 200 days.
Insight into Wipro Limited Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Wipro Limited [WIT] shares currently have an operating margin of +16.62 and a Gross Margin at +28.54. Wipro Limited’s Net Margin is presently recorded at +15.93.
Return on Total Capital for WIT is now 15.29, given the latest momentum, and Return on Invested Capital for the company is 16.60. Return on Equity for this stock inclined to 17.27, with Return on Assets sitting at 11.78. When it comes to the capital structure of this company, Wipro Limited [WIT] has a Total Debt to Total Equity ratio set at 17.44. Additionally, WIT Total Debt to Total Capital is recorded at 14.85, with Total Debt to Total Assets ending up at 11.90. Long-Term Debt to Equity for the company is recorded at 3.14, with the Long-Term Debt to Total Capital now at 2.67.
Reflecting on the efficiency of the workforce at the company, Wipro Limited [WIT] managed to generate an average of $555,531 per employee. Receivables Turnover for the company is 3.97 with a Total Asset Turnover recorded at a value of 0.74.Wipro Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.60.
WIT Stock EPS
With the latest financial reports released by the company, Wipro Limited posted 0.06/share EPS, while the average EPS was predicted by analysts to be reported at 0.06/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Wipro Limited go to 9.00%.
Wipro Limited [WIT] Insider Position Details
There are presently around $735 million, or 2.40% of WIT stock, in the hands of institutional investors. The top three institutional holders of WIT stocks are: STATE STREET CORP with ownership of 14,008,546, which is approximately -0.169% of the company’s market cap and around 79.00% of the total institutional ownership; VANGUARD GROUP INC, holding 13,781,655 shares of the stock with an approximate value of $76.9 million in WIT stocks shares; and BLACKROCK INC., currently with $74.4 million in WIT stock with ownership of nearly 3.2% of the company’s market capitalization.
Positions in Wipro Limited stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 90 institutional holders increased their position in Wipro Limited [NYSE:WIT] by around 12,950,249 shares. Additionally, 60 investors decreased positions by around 18,983,662 shares, while 19 investors held positions by with 99,800,742 shares. The mentioned changes placed institutional holdings at 131,734,653 shares, according to the latest SEC report filing. WIT stock had 34 new institutional investments in for a total of 2,392,034 shares, while 16 institutional investors sold positions of 2,845,469 shares during the same period.