Market cap of Wipro Limited [WIT] reaches 32.14B – now what?

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Wipro Limited [NYSE: WIT] price plunged by -1.66 percent to reach at -$0.1. The company report on May 10, 2022 that Wipro Re-Engaged by Crédit Agricole CIB to Support the Company’s IT Infrastructure Transformation.


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Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting, and business process services company, today announced that it has extended its strategic agreement with Crédit Agricole CIB, the corporate and investment bank division of Crédit Agricole Group, to fuel Crédit Agricole CIB’s next stage of growth.

The engagement builds on Crédit Agricole CIB and Wipro’s decade-long relationship and will provide the Bank with a larger team of Wipro experts who will operate a robust and secure infrastructure.

A sum of 4127906 shares traded at recent session while its average daily volume was at 3.33M shares. Wipro Limited shares reached a high of $5.95 and dropped to a low of $5.78 until finishing in the latest session at $5.91.

The one-year WIT stock forecast points to a potential upside of 16.88. The average equity rating for WIT stock is currently 4.50, trading closer to a bullish pattern in the stock market.

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 $7.11 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.

JP Morgan have made an estimate for Wipro Limited shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on May 19, 2022. While these analysts kept the previous recommendation, Macquarie raised their target price to Neutral. The new note on the price target was released on April 11, 2022, representing the official price target for Wipro Limited stock. Previously, the target price had yet another drop from $8.55 to $7.70, while Jefferies kept a Hold rating on WIT stock.

The Average True Range (ATR) for Wipro Limited is set at 0.19, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 3.15. The Price to Book ratio for the last quarter was 3.81, with the Price to Cash per share for the same quarter was set at 0.81. Price to Free Cash Flow for WIT in the course of the last twelve months was 25.52 with Quick ratio for the last quarter at 2.30.

WIT Stock Performance Analysis:

Wipro Limited [WIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.98. With this latest performance, WIT shares dropped by -15.45% in over the last four-week period, additionally sinking by -34.98% over the last 6 months – not to mention a drop of -21.83% 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 32.60, with the RSI for the last a single of trading hit 32.68, and the three-weeks RSI is set at 33.48 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 7.11, while it was recorded at 6.08 for the last single week of trading, and 8.32 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 +16.91 and a Gross Margin at +29.72. Wipro Limited’s Net Margin is presently recorded at +15.45.

Return on Total Capital for WIT is now 17.91, given the latest momentum, and Return on Invested Capital for the company is 18.74. Return on Equity for this stock inclined to 20.18, with Return on Assets sitting at 12.79. When it comes to the capital structure of this company, Wipro Limited [WIT] has a Total Debt to Total Equity ratio set at 26.73. Additionally, WIT Total Debt to Total Capital is recorded at 21.09, with Total Debt to Total Assets ending up at 16.30. Long-Term Debt to Equity for the company is recorded at 10.88, with the Long-Term Debt to Total Capital now at 8.59.

Reflecting on the efficiency of the workforce at the company, Wipro Limited [WIT] managed to generate an average of $2,690,484 per employee. Receivables Turnover for the company is 4.58 with a Total Asset Turnover recorded at a value of 0.83.Wipro Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

WIT Stock EPS

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 $729 million, or 2.60% of WIT stock, in the hands of institutional investors. The top three institutional holders of WIT stocks are: BLACKROCK INC. with ownership of 16,033,590, which is approximately 3.279% of the company’s market cap and around 79.00% of the total institutional ownership; VANGUARD GROUP INC, holding 12,572,099 shares of the stock with an approximate value of $75.56 million in WIT stocks shares; and STATE STREET CORP, currently with $62.33 million in WIT stock with ownership of nearly 1.318% of the company’s market capitalization.

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 106 institutional holders increased their position in Wipro Limited [NYSE:WIT] by around 21,793,927 shares. Additionally, 108 investors decreased positions by around 25,989,418 shares, while 24 investors held positions by with 73,507,251 shares. The mentioned changes placed institutional holdings at 121,290,596 shares, according to the latest SEC report filing. WIT stock had 29 new institutional investments in for a total of 2,018,339 shares, while 36 institutional investors sold positions of 3,689,375 shares during the same period.

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