Wipro Limited $WIT Holdings Boosted by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. increased its holdings in Wipro Limited by 3.6% during the second quarter, now owning 4,270,701 shares valued at approximately $12.9 million.
• Wipro reported a 4 cents EPS for the last quarter, meeting the consensus estimate, while its revenue was $2.58 billion compared to a much higher consensus estimate of $219.23 billion.
• The company recently declared a dividend of $0.057 per share, indicating a yield of 409.9%, despite a payout ratio of 62.50%.

Robeco Institutional Asset Management B.V. grew its holdings in Wipro Limited (NYSE:WIT - Free Report) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,270,701 shares of the information technology services provider's stock after purchasing an additional 147,441 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Wipro were worth $12,898,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Acadian Asset Management LLC raised its position in Wipro by 44.4% during the first quarter. Acadian Asset Management LLC now owns 20,977,514 shares of the information technology services provider's stock valued at $64,171,000 after buying an additional 6,447,184 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Wipro by 22.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,354,002 shares of the information technology services provider's stock valued at $31,683,000 after purchasing an additional 1,864,943 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Wipro by 45.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,227,213 shares of the information technology services provider's stock worth $22,115,000 after purchasing an additional 2,257,828 shares in the last quarter. Millennium Management LLC grew its position in Wipro by 70.4% during the first quarter. Millennium Management LLC now owns 7,114,173 shares of the information technology services provider's stock valued at $21,769,000 after purchasing an additional 2,939,007 shares in the last quarter. Finally, Northern Trust Corp grew its position in Wipro by 115.3% during the first quarter. Northern Trust Corp now owns 5,766,763 shares of the information technology services provider's stock valued at $17,646,000 after purchasing an additional 3,087,697 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Trading Up 0.2%

Shares of NYSE:WIT opened at $2.63 on Friday. The stock has a market capitalization of $27.48 billion, a PE ratio of 16.94 and a beta of 1.00. Wipro Limited has a 1 year low of $2.58 and a 1 year high of $3.79. The firm has a fifty day moving average price of $2.74 and a 200 day moving average price of $2.87.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Wipro had a return on equity of 15.94% and a net margin of 15.07%.The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $219.23 billion. On average, sell-side analysts forecast that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 28th were given a dividend of $0.057 per share. The ex-dividend date of this dividend was Monday, July 28th. This represents a yield of 409.9%. Wipro's payout ratio is 62.50%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised shares of Wipro from an "underweight" rating to an "equal weight" rating in a research note on Friday, June 20th. Weiss Ratings reissued a "hold (c+)" rating on shares of Wipro in a research report on Saturday, September 27th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average 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.

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