206 institutions hold shares in Wipro Limited (WIT), with institutional investors hold 2.36% of the company’s shares. The shares outstanding are 5.70B, and float is at 1.69B with Short Float at 0.74%. Institutions hold 2.36% of the Float.
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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 13.4 million shares valued at $75.72 million. The investor’s holdings represent 0.24% of the WIT Shares outstanding. As of Dec 30, 2020, the second largest holder is AQR Capital Management, LLC with 12.86 million shares valued at $72.68 million to account for 0.23% of the shares outstanding. The other top investors are State Street Corporation which holds 12.03 million shares representing 0.22% and valued at over $67.99 million, while Blackrock Inc. holds 0.21% of the shares totaling 11.78 million with a market value of $66.53 million.
Wipro Limited (NYSE: WIT) is 11.33% higher on its value in year-to-date trading and has touched a low of $2.79 and a high of $6.76 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The WIT stock was last observed hovering at around $6.41 in the last trading session, with the day’s loss setting it -0.12% off its average median price target of $6.20 for the next 12 months. It is also 17.78% off the consensus price target high of $7.65 offered by 42 analysts, but current levels are -45.27% lower than the price target low of $4.33 for the same period.
Currently trading at $6.29, the stock is -2.40% and -2.66% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.16 million and changing -1.87% at the moment leaves the stock 23.92% off its SMA200. WIT registered 111.78% gain for a year compared to 6-month gain of 32.98%. The firm has a 50-day simple moving average (SMA 50) of $6.46 and a 200-day simple moving average (SMA200) of $5.64.
The stock witnessed a 2.61% loss in the last 1 month and extending the period to 3 months gives it a 12.32%, and is -2.63% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.78% over the week and 2.12% over the month.
Wipro Limited (WIT) has around 180000 employees, a market worth around $29.49B and $8.45B in sales. Current P/E ratio is 25.78 and Fwd P/E is 23.04. Profit margin for the company is 16.50%. Distance from 52-week low is 125.45% and -6.95% from its 52-week high. The company has generated returns on investments over the last 12 months (12.40%).
Wipro Limited (WIT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Wipro Limited (WIT) is a “Hold”. 42 analysts offering their recommendations for the stock have an average rating of 4.20, where 11 rate it as a Hold and 6 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 12 analysts have rated the stock as a Sell or Underperform.
Wipro Limited is expected to release its quarterly report on 04/15/2021 and quarterly earnings per share for the current quarter are estimated at $0.07 with sales reaching $2.18B over the same period.The EPS is expected to grow by 11.20% this year, but quarterly earnings will post 4.50% year-over-year. Quarterly sales are estimated to grow 4.70% in year-over-year returns.
Wipro Limited (WIT): Who are the competitors?
The company’s main competitors (and peers) include Accenture plc (ACN) that is trading 71.62% up over the past 12 months and HP Inc. (HPQ) that is 84.28% higher over the same period. International Business Machines Corporation (IBM) is 25.76% up on the 1-year trading charts. Short interest in the company’s stock has fallen -24.74% from the last report on Feb 11, 2021 to stand at a total of 15.63 million short shares sold with a short interest ratio of 6.04.