Market cap of Wipro Limited [WIT] reaches 41.37B – now what?

Wipro Limited [NYSE: WIT] loss -3.47% or -0.28 points to close at $7.79 with a heavy trading volume of 1854326 shares. The company report on June 16, 2021 that Wipro joins World Economic Forum’s Partnership for New Work Standards initiative.

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Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, announced that it has joined the World Economic Forum’s Partnership for New Work Standards initiative to establish a healthy, resilient and equitable future of work. This initiative aims to co-create new frameworks, shape forward-thinking people policies and utilize tools and technologies to collectively build human-first work standards, with people at the heart of business.

Saurabh Govil, President and Chief Human Resources Officer, Wipro Limited, said, “Companies around the world are reinventing themselves so they can offer better employee flexibility, stability and security. Wipro is committed to advancing work standards for improved job quality, employee safety, and overall employee well-being. As we join the World Economic Forum’s Partnership for New Work Standards initiative, we hope to contribute to global discussions and behavioral change around work. This step demonstrates our willingness to contribute to collective action that helps build a sustainable and resilient future of work.”.

It opened the trading session at $7.91, the shares rose to $7.91 and dropped to $7.78, the range by which the price of stock traded the whole day. The daily chart for WIT points out that the company has recorded 48.10% gains over the past six months. However, it is still -146.52% lower than its most recent low trading price.

If we look at the average trading volume of 1.73M shares, WIT reached to a volume of 1854326 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $5.35 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 4.50. 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.

Bernstein have made an estimate for Wipro Limited shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on May 26, 2021. The new note on the price target was released on April 16, 2021, representing the official price target for Wipro Limited stock.

The Average True Range (ATR) for Wipro Limited is set at 0.13, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 4.95. The Price to Book ratio for the last quarter was 5.77, with the Price to Cash per share for the same quarter was set at 0.88. Price to Free Cash Flow for WIT in the course of the last twelve months was 23.98 with Quick ratio for the last quarter at 2.30.

Trading performance analysis for WIT stock

Wipro Limited [WIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.83. With this latest performance, WIT shares gained by 1.96% in over the last four-week period, additionally plugging by 48.10% over the last 6 months – not to mention a rise of 140.43% 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 46.65, with the RSI for the last a single of trading hit 39.19, and the three-weeks RSI is set at 51.59 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 7.57, while it was recorded at 7.94 for the last single week of trading, and 6.15 for the last 200 days.

Wipro Limited [WIT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Wipro Limited [WIT] shares currently have an operating margin of +19.95 and a Gross Margin at +31.68. Wipro Limited’s Net Margin is presently recorded at +17.43.

Return on Total Capital for WIT is now 18.78, given the latest momentum, and Return on Invested Capital for the company is 18.79. Return on Equity for this stock inclined to 19.44, with Return on Assets sitting at 13.10. When it comes to the capital structure of this company, Wipro Limited [WIT] has a Total Debt to Total Equity ratio set at 18.90. Additionally, WIT Total Debt to Total Capital is recorded at 15.89, with Total Debt to Total Assets ending up at 12.57. Long-Term Debt to Equity for the company is recorded at 3.79, with the Long-Term Debt to Total Capital now at 3.19.

Reflecting on the efficiency of the workforce at the company, Wipro Limited [WIT] managed to generate an average of $539,730 per employee. Receivables Turnover for the company is 4.10 with a Total Asset Turnover recorded at a value of 0.75.Wipro Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

Wipro Limited [WIT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Wipro Limited posted 0.05/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/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%.

An analysis of insider ownership at Wipro Limited [WIT]

There are presently around $1,072 million, or 2.50% of WIT stock, in the hands of institutional investors. The top three institutional holders of WIT stocks are: BLACKROCK INC. with ownership of 15,944,386, which is approximately 35.403% of the company’s market cap and around 79.00% of the total institutional ownership; AQR CAPITAL MANAGEMENT LLC, holding 14,382,007 shares of the stock with an approximate value of $112.04 million in WIT stocks shares; and VANGUARD GROUP INC, currently with $105.81 million in WIT stock with ownership of nearly 1.345% of the company’s market capitalization.

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Positions in Wipro Limited stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 109 institutional holders increased their position in Wipro Limited [NYSE:WIT] by around 21,656,326 shares. Additionally, 65 investors decreased positions by around 16,162,120 shares, while 23 investors held positions by with 99,733,275 shares. The mentioned changes placed institutional holdings at 137,551,721 shares, according to the latest SEC report filing. WIT stock had 27 new institutional investments in for a total of 2,465,281 shares, while 18 institutional investors sold positions of 849,648 shares during the same period.

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