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

Robeco Institutional Asset Management B.V. grew its holdings in shares of Wipro Limited (NYSE:WIT) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,871,157 shares of the information technology services provider’s stock after buying an additional 263,631 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Wipro were worth $13,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Interchange Capital Partners LLC bought a new stake in shares of Wipro during the third quarter valued at approximately $27,000. Curi Capital LLC bought a new stake in shares of Wipro during the second quarter valued at approximately $31,000. Walkner Condon Financial Advisors LLC bought a new stake in shares of Wipro during the third quarter valued at approximately $27,000. Clarendon Private LLC bought a new stake in shares of Wipro during the third quarter valued at approximately $32,000. Finally, Aspiring Ventures LLC bought a new stake in shares of Wipro during the third quarter valued at approximately $32,000. Institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

NYSE WIT opened at $2.20 on Wednesday. Wipro Limited has a 12 month low of $2.05 and a 12 month high of $3.13. The firm has a market capitalization of $23.04 billion, a PE ratio of 15.72, a P/E/G ratio of 6.15 and a beta of 1.06. The company’s 50 day simple moving average is $2.25 and its 200 day simple moving average is $2.56.

Wipro (NYSE:WIT) last posted its quarterly earnings data on Wednesday, January 21st. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Wipro had a net margin of 14.61% and a return on equity of 15.35%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $2.63 billion. Sell-side analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut Wipro to an “underweight” rating in a report on Monday, January 19th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Wipro has an average rating of “Reduce”.

Wipro Company Profile

Wipro Limited (NYSE: WIT) is an Indian multinational corporation that provides information technology, consulting and business process services. Headquartered in Bengaluru, India, the company traces its origins to 1945 when it was founded as Western India Vegetable Products and later diversified into technology and IT services. Today Wipro positions itself as a provider of enterprise IT solutions and digital transformation services for large and mid-sized organizations across multiple industries.

The company’s service portfolio includes application development and maintenance, cloud and infrastructure services, data analytics and AI, cybersecurity, digital consulting, product engineering and research and development, as well as business process services.