Wipro Limited [NYSE: WIT] gained 7.29% on the last trading session, reaching $9.57 price per share at the time. The company report on October 13, 2021 that Wipro Limited Announces Results for the Quarter Ended September 30, 2021 Under IFRS.
IT Services delivers strong revenue growth for the quarter at 8.1% QoQ and 28.8% YoYNet Income & EPS showed a robust increase of 18.9% YoY and 23.8% YoY respectively.
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) announced financial results under International Financial Reporting Standards (IFRS) for the Quarter ended September 30, 2021.
Wipro Limited represents 5.46 billion in outstanding shares, while the company has a total market value of $50.97 billion with the latest information. WIT stock price has been found in the range of $9.27 to $9.665.
If compared to the average trading volume of 2.02M shares, WIT reached a trading volume of 3800386 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 $6.80 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 4.20. 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.
JP Morgan have made an estimate for Wipro Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 30, 2021. The new note on the price target was released on May 26, 2021, representing the official price target for Wipro Limited stock.
The Average True Range (ATR) for Wipro Limited is set at 0.22, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 5.84. The Price to Book ratio for the last quarter was 6.65, with the Price to Cash per share for the same quarter was set at 0.77. Price to Free Cash Flow for WIT in the course of the last twelve months was 31.95 with Quick ratio for the last quarter at 2.20.
Trading performance analysis for WIT stock
Wipro Limited [WIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.75. With this latest performance, WIT shares gained by 0.21% in over the last four-week period, additionally plugging by 45.88% over the last 6 months – not to mention a rise of 80.91% 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 62.33, with the RSI for the last a single of trading hit 68.13, and the three-weeks RSI is set at 60.17 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 9.09, while it was recorded at 9.01 for the last single week of trading, and 7.59 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 2.20 and a Current Ratio set at 2.20.
Wipro Limited [WIT]: An earnings per share (EPS) analysis
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 $1,292 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 14,859,348, which is approximately -6.805% of the company’s market cap and around 79.00% of the total institutional ownership; VANGUARD GROUP INC, holding 13,578,114 shares of the stock with an approximate value of $129.94 million in WIT stocks shares; and AQR CAPITAL MANAGEMENT LLC, currently with $116.53 million in WIT stock with ownership of nearly -15.338% 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 91 institutional holders increased their position in Wipro Limited [NYSE:WIT] by around 12,155,190 shares. Additionally, 96 investors decreased positions by around 14,124,262 shares, while 21 investors held positions by with 108,764,960 shares. The mentioned changes placed institutional holdings at 135,044,412 shares, according to the latest SEC report filing. WIT stock had 30 new institutional investments in for a total of 4,136,362 shares, while 19 institutional investors sold positions of 581,534 shares during the same period.