Wipro Ltd. ADR (WIT) Stock Could Soon Reward Patient Investors

Wipro Ltd. ADR (NYSE: WIT) is 7.36% higher on its value in year-to-date trading and has touched a low of $4.32 and a high of $6.39 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 $5.86 in the last trading session, with the day’s gains setting it 0.12%.

Currently trading at $5.98, the stock is 3.34% and 9.92% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.4 million and changing 2.05% at the moment leaves the stock 20.24% off its SMA200. WIT registered 22.29% gain for a year compared to 6-month gain of 20.32%. The firm has a 50-day simple moving average (SMA 50) of $0.03 and a 200-day simple moving average (SMA200) of $0.18.

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The stock witnessed a 11.36% loss in the last 1 month and extending the period to 3 months gives it a 32.59%, and is 3.64% 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 1.02% over the week and 1.61% over the month.

Wipro Ltd. ADR (WIT) has around Jan 23 2024 employees, a market worth around $31.20B and $10.99B in sales. Current P/E ratio is 23.61 and Fwd P/E is 21.29. Profit margin for the company is 12.44%. Distance from 52-week low is 38.43% and -6.42% from its 52-week high. The company has generated returns on investments over the last 12 months (14.87%).

Wipro Ltd. ADR quarterly earnings per share for the current quarter are estimated at $0.07 with sales reaching $2.68B over the same period.The EPS is expected to grow by 23.05% this year, but quarterly earnings will post -1.30% year-over-year. Quarterly sales are estimated to shrink -5.10% in year-over-year returns.

Wipro Ltd. ADR (WIT) Top Institutional Holders

285 institutions hold shares in Wipro Ltd. ADR (WIT), with institutional investors hold 2.56% of the company’s shares. The shares outstanding are 5.48B, and float is at 5.22B with Short Float at 0.27%. Institutions hold 2.56% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 29.11 million shares valued at $137.38 million. The investor’s holdings represent 0.56% of the WIT Shares outstanding. As of Jun 29, 2023, the second largest holder is Goldman Sachs Group Inc with 12.3 million shares valued at $58.06 million to account for 0.24% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 11.92 million shares representing 0.23% and valued at over $56.26 million, while State Street Corporation holds 0.20% of the shares totaling 10.22 million with a market value of $48.25 million.

Wipro Ltd. ADR (WIT): Who are the competitors?

The company’s main competitors (and peers) include Accenture PLC Cl A (ACN) that is trading 27.43% up over the past 12 months. HP Inc. (HPQ) that is -5.44% lower over the same period.