Robeco Institutional Asset Management B.V. Buys 561,046 Shares of Wipro Limited (NYSE:WIT)

Robeco Institutional Asset Management B.V. grew its holdings in Wipro Limited (NYSE:WIT - Free Report) by 15.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,123,260 shares of the information technology services provider's stock after purchasing an additional 561,046 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Wipro were worth $12,617,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bell Investment Advisors Inc grew its stake in Wipro by 100.0% in the fourth quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 3,631 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Wipro by 148.3% in the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after buying an additional 4,851 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in Wipro in the fourth quarter worth approximately $35,000. Freestone Capital Holdings LLC bought a new position in Wipro during the fourth quarter valued at approximately $36,000. Finally, Callan Family Office LLC acquired a new stake in Wipro in the fourth quarter valued at approximately $37,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley upgraded shares of Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Jefferies Financial Group downgraded shares of Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Finally, Wall Street Zen raised Wipro from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Wipro has a consensus rating of "Hold".

Wipro Stock Performance

NYSE:WIT traded up $0.02 during midday trading on Wednesday, reaching $3.08. The stock had a trading volume of 3,705,263 shares, compared to its average volume of 4,933,700. The stock has a market capitalization of $32.17 billion, a P/E ratio of 20.50, a PEG ratio of 8.71 and a beta of 1.02. Wipro Limited has a 1-year low of $2.63 and a 1-year high of $3.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.72 and a quick ratio of 2.71. The firm's fifty day simple moving average is $2.93 and its 200-day simple moving average is $3.19.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.97% and a net margin of 14.73%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $225.66 billion. On average, equities research analysts forecast that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro Profile

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.