Wipro Limited [NYSE: WIT] closed the trading session at $4.89 on 01/17/23. The day’s price range saw the stock hit a low of $4.79, while the highest price level was $4.895. The company report on January 13, 2023 that Wipro Announces Third Quarter Results, Delivers Record Total Bookings.
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IT Services Revenue for the quarter increased 10.4% YoY.
The stocks have a year to date performance of 4.94 percent and weekly performance of 3.16 percent. The stock has been moved at -3.36 percent over the last six months. The stock has performed 1.66 percent around the most recent 30 days and changed 10.14 percent over the most recent 3-months.
If compared to the average trading volume of 2.50M shares, WIT reached to a volume of 5691332 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 $4.32 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 0.10, 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 2.88, with the Price to Cash per share for the same quarter was set at 0.85.
WIT stock trade performance evaluation
Wipro Limited [WIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.16. With this latest performance, WIT shares gained by 1.66% in over the last four-week period, additionally sinking by -3.36% over the last 6 months – not to mention a drop of -43.34% 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 59.38, with the RSI for the last a single of trading hit 65.82, and the three-weeks RSI is set at 55.59 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 4.81, while it was recorded at 4.81 for the last single week of trading, and 5.38 for the last 200 days.
Wipro Limited [WIT]: An insightful look at the core 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 $509,129 per employee. Receivables Turnover for the company is 4.48 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 2.20 and a Current Ratio set at 2.20.
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 $584 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 $58.39 million in WIT stocks shares; and MORGAN STANLEY, currently with $54.45 million in WIT stock with ownership of nearly 29.801% of the company’s market capitalization.
Positions in Wipro Limited stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 104 institutional holders increased their position in Wipro Limited [NYSE:WIT] by around 14,441,660 shares. Additionally, 85 investors decreased positions by around 11,962,518 shares, while 35 investors held positions by with 93,084,161 shares. The mentioned changes placed institutional holdings at 119,488,339 shares, according to the latest SEC report filing. WIT stock had 23 new institutional investments in for a total of 2,549,324 shares, while 24 institutional investors sold positions of 1,771,840 shares during the same period.