230 institutions hold shares in Wipro Limited (WIT), with institutional investors hold 2.55% of the company’s shares. The shares outstanding are 5.70B, and float is at 1.41B with Short Float at 0.90%. Institutions hold 2.55% of the Float.
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 29.38% higher on its value in year-to-date trading and has touched a low of $2.79 and a high of $7.29 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 $7.21 in the last trading session, with the day’s gains setting it 0.1% off its average median price target of $6.25 for the next 12 months. It is also 7.93% off the consensus price target high of $7.94 offered by 42 analysts, but current levels are -61.73% lower than the price target low of $4.52 for the same period.
Currently trading at $7.31, the stock is 8.37% and 11.57% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.92 million and changing 1.39% at the moment leaves the stock 34.10% off its SMA200. WIT registered 131.33% gain for a year compared to 6-month gain of 48.88%. The firm has a 50-day simple moving average (SMA 50) of $6.62 and a 200-day simple moving average (SMA200) of $5.95.
The stock witnessed a 14.40% loss in the last 1 month and extending the period to 3 months gives it a 12.29%, and is 1.95% up 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 1.00% over the week and 1.65% over the month.
Wipro Limited (WIT) has around 180000 employees, a market worth around $35.92B and $8.25B in sales. Current P/E ratio is 28.78 and Fwd P/E is 23.58. Profit margin for the company is 15.60%. Distance from 52-week low is 162.01% and 0.27% 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 8 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 8 analysts have rated the stock as a Sell or Underperform.
Wipro Limited is expected to release its quarterly report on 07/20/2021 and quarterly earnings per share for the current quarter are estimated at $0.07 with sales reaching $2.23B over the same period.The EPS is expected to grow by 11.20% this year, but quarterly earnings will post 14.40% year-over-year.
Wipro Limited (WIT): Who are the competitors?
The company’s main competitors (and peers) include Accenture plc (ACN) that is trading 55.97% up over the past 12 months. International Business Machines Corporation (IBM) is 12.08% up on the 1-year trading charts. Short interest in the company’s stock has fallen -2.0% from the last report on Apr 14, 2021 to stand at a total of 12.78 million short shares sold with a short interest ratio of 7.24.