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

Robeco Institutional Asset Management B.V. boosted its holdings in Wipro Limited (NYSE:WIT) by 18.4% in the third quarter, HoldingsChannel.com reports. The firm owned 6,503,917 shares of the information technology services provider’s stock after acquiring an additional 1,012,128 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Wipro were worth $10,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in WIT. First Trust Advisors LP boosted its holdings 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 buying an additional 3,206,153 shares during the period. Nykredit A S bought a new stake in shares of Wipro during the 2nd quarter valued at about $3,505,000. Engineers Gate Manager LP raised its stake in Wipro by 241.0% during the second quarter. Engineers Gate Manager LP now owns 706,130 shares of the information technology services provider’s stock worth $1,589,000 after acquiring an additional 499,082 shares during the period. Barometer Capital Management Inc. acquired a new stake in Wipro during the first quarter worth about $483,000. Finally, Commonwealth Financial Services LLC bought a new position in Wipro in the first quarter worth about $25,000. Institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

Shares of WIT opened at $2.12 on Friday. Wipro Limited has a 12 month low of $1.59 and a 12 month high of $3.09. The stock has a fifty day moving average price of $1.79 and a 200 day moving average price of $1.96. The company has a market cap of $20.92 billion, a P/E ratio of 16.27, a PEG ratio of 4.22 and a beta of 0.97.

Wipro (NYSE:WIT) last posted its earnings results on Thursday, October 15th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Wipro had a net margin of 13.58% and a return on equity of 15.64%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.58 billion. As a group, research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Wipro Profile

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.