1,012,128 Wipro Limited $WIT Shares Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management increased its Wipro stake by 18.4%, purchasing 1,012,128 additional shares to hold 6.5 million shares worth approximately $10.7 million. Institutional investors collectively own 2.36% of Wipro.
• Wall Street sentiment is strongly negative: analysts have issued four Sell ratings, with Wipro receiving an average “Strong Sell” rating and a $1.70 price target.
• Wipro’s shares opened at $2.12 after declining 3.4%, while its latest quarterly earnings of $0.03 per share missed the $0.04 consensus estimate; revenue of $2.58 billion matched expectations.

Robeco Institutional Asset Management B.V. grew its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 18.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,503,917 shares of the information technology services provider's stock after acquiring an additional 1,012,128 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.07% of Wipro worth $10,731,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. First Trust Advisors LP lifted its stake in shares of Wipro by 20.9% in the 1st quarter. First Trust Advisors LP now owns 18,557,277 shares of the information technology services provider's stock valued at $39,341,000 after purchasing an additional 3,206,153 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Wipro by 5.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 2,314,134 shares of the information technology services provider's stock worth $5,207,000 after purchasing an additional 128,854 shares during the period. Dimensional Fund Advisors LP increased its position in Wipro by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,311,642 shares of the information technology services provider's stock worth $4,901,000 after purchasing an additional 100,784 shares in the last quarter. Renaissance Technologies LLC increased its position in Wipro by 2.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,261,200 shares of the information technology services provider's stock worth $4,794,000 after purchasing an additional 62,800 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Wipro during the 2nd quarter worth approximately $3,782,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WIT shares. Weiss Ratings cut shares of Wipro from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, October 2nd. CLSA downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a research note on Wednesday, August 19th. Four equities research analysts have rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has an average rating of "Strong Sell" and an average price target of $1.70.

Wipro Stock Down 3.4%

Shares of NYSE:WIT opened at $2.12 on Friday. Wipro Limited has a 52-week low of $1.59 and a 52-week high of $3.09. The company has a 50 day moving average of $1.79 and a two-hundred day moving average of $1.96. The company has a market capitalization of $20.92 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 4.22 and a beta of 0.97.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The information technology services provider reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.58 billion. Wipro had a net margin of 13.58% and a return on equity of 15.64%. On average, equities analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

About Wipro

Wipro Limited is a global information technology, consulting and business process services company headquartered in Bengaluru, India. The company helps organizations modernize their technology operations, improve business processes and implement digital transformation initiatives.

Wipro provides services including cloud computing, cybersecurity, data and analytics, artificial intelligence, application development and management, engineering, infrastructure services, and business process services.

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