Boston Partners Has $475,000 Stock Position in Wipro Limited $WIT

Key Points

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Boston Partners lessened its holdings in shares of Wipro Limited (NYSE:WIT - Free Report) by 84.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,208 shares of the information technology services provider's stock after selling 832,593 shares during the period. Boston Partners' holdings in Wipro were worth $475,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Focus Partners Advisor Solutions LLC bought a new position in shares of Wipro during the 4th quarter valued at about $35,000. CogentBlue Wealth Advisors LLC bought a new position in shares of Wipro during the 1st quarter valued at about $37,000. Legacy Advisors LLC bought a new position in shares of Wipro during the 1st quarter valued at about $40,000. Captrust Financial Advisors bought a new position in shares of Wipro during the 4th quarter valued at about $44,000. Finally, Hoxton Planning & Management LLC bought a new position in shares of Wipro during the 1st quarter valued at about $48,000. Institutional investors own 2.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised Wipro from an "underweight" rating to an "equal weight" rating in a research report on Friday, June 20th. Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Wipro presently has a consensus rating of "Reduce".

Wipro Trading Up 0.2%

Shares of NYSE:WIT traded up $0.0050 during trading on Thursday, hitting $2.7950. 4,832,980 shares of the company were exchanged, compared to its average volume of 8,251,073. The stock has a market cap of $29.24 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 10.17 and a beta of 0.93. Wipro Limited has a fifty-two week low of $2.62 and a fifty-two week high of $3.79. The firm has a fifty day moving average price of $2.90 and a two-hundred day moving average price of $3.02.

Wipro (NYSE:WIT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $219.23 billion. Wipro had a return on equity of 15.94% and a net margin of 15.07%. As a group, research analysts predict that Wipro Limited will post 0.14 EPS for the current year.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.