Wipro Limited [WIT] is -52.36% lower this YTD. Is it still time to buy?

Wipro Limited [NYSE: WIT] closed the trading session at $4.65 on 12/29/22. The day’s price range saw the stock hit a low of $4.62, while the highest price level was $4.71. The company report on December 19, 2022 that Wipro Selected as Dow Jones Sustainability World Index (DJSI) Member for the 13th Consecutive Year.

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Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced that it has been selected as a member of the Dow Jones Sustainability World Index (DJSI) – 2022 for the thirteenth year in succession. Wipro’s unbroken track record is unique for the IT Services sector.

This year saw a record 3519 companies assessed from around the world, of which 332 made it to the DJSI (World) index for 2022-2023. The IT Services sector saw 78 companies participating globally of which 10 have been selected in the World Index. Wipro is also part of DJSI (Emerging Markets), one of the only two companies selected from the IT services sector.

The stocks have a year to date performance of -52.36 percent and weekly performance of -0.64 percent. The stock has been moved at -12.43 percent over the last six months. The stock has performed -6.06 percent around the most recent 30 days and changed -1.48 percent over the most recent 3-months.

If compared to the average trading volume of 2.87M shares, WIT reached to a volume of 2579389 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $4.38 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 4.70. 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.

Credit Suisse have made an estimate for Wipro Limited shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on October 13, 2022. The new note on the price target was released on September 13, 2022, representing the official price target for Wipro Limited stock.

The Average True Range (ATR) for Wipro Limited is set at 0.11, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 2.57. The Price to Book ratio for the last quarter was 2.94, with the Price to Cash per share for the same quarter was set at 0.74. Price to Free Cash Flow for WIT in the course of the last twelve months was 38.19 with Quick ratio for the last quarter at 2.00.

WIT stock trade performance evaluation

Wipro Limited [WIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.64. With this latest performance, WIT shares dropped by -6.06% in over the last four-week period, additionally sinking by -12.43% over the last 6 months – not to mention a drop of -51.96% 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 44.69, with the RSI for the last a single of trading hit 45.85, and the three-weeks RSI is set at 45.11 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 4.79, while it was recorded at 4.58 for the last single week of trading, and 5.56 for the last 200 days.

Wipro Limited [WIT]: An insightful look at the core fundamentals

Wipro Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.

Earnings per share (EPS) analysis for Wipro Limited [WIT] stock

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 Ownership positions

There are presently around $558 million, or 2.20% of WIT stock, in the hands of institutional investors. The top three institutional holders of WIT stocks are: BLACKROCK INC. with ownership of 17,660,329, which is approximately 14.046% of the company’s market cap and around 79.00% of the total institutional ownership; VANGUARD GROUP INC, holding 11,941,290 shares of the stock with an approximate value of $55.53 million in WIT stocks shares; and MORGAN STANLEY, currently with $51.78 million in WIT stock with ownership of nearly 29.801% of the company’s market capitalization.

104 institutional holders increased their position in Wipro Limited [NYSE:WIT] by around 15,434,797 shares. Additionally, 88 investors decreased positions by around 11,575,932 shares, while 35 investors held positions by with 92,894,265 shares. The mentioned changes placed institutional holdings at 119,904,994 shares, according to the latest SEC report filing. WIT stock had 21 new institutional investments in for a total of 2,538,244 shares, while 28 institutional investors sold positions of 1,809,743 shares during the same period.


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