Boston Partners Reduces Position in Wipro Limited $WIT

Key Points

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Boston Partners cut its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 84.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC purchased a new position in Wipro during the fourth quarter worth about $35,000. CogentBlue Wealth Advisors LLC purchased a new position in Wipro during the first quarter worth about $37,000. Captrust Financial Advisors purchased a new position in Wipro during the fourth quarter worth about $44,000. Legacy Advisors LLC purchased a new position in Wipro during the first quarter worth about $40,000. Finally, Principal Street Partners LLC purchased a new position in Wipro during the fourth quarter worth about $51,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Trading Up 0.9%

WIT traded up $0.0250 during trading hours on Friday, hitting $2.8250. 9,128,244 shares of the company's stock were exchanged, compared to its average volume of 8,335,488. Wipro Limited has a 12-month low of $2.62 and a 12-month high of $3.79. The firm has a 50 day moving average of $2.90 and a 200 day moving average of $3.00. The firm has a market cap of $29.55 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 10.28 and a beta of 0.93.

Wipro (NYSE:WIT - Get Free Report) last announced its 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. Wipro had a net margin of 15.07% and a return on equity of 15.94%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $219.23 billion. As a group, research analysts expect that Wipro Limited will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WIT has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Wall Street Zen upgraded shares of Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce".

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.