Boston Partners Invests $3.50 Million in Wipro Limited (NYSE:WIT)

Boston Partners bought a new stake in shares of Wipro Limited (NYSE:WIT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 987,801 shares of the information technology services provider’s stock, valued at approximately $3,497,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WIT. Glenmede Trust Co. NA raised its holdings in Wipro by 4.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 37,327 shares of the information technology services provider’s stock worth $242,000 after purchasing an additional 1,746 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Wipro by 9.1% during the third quarter. Franklin Resources Inc. now owns 35,371 shares of the information technology services provider’s stock valued at $233,000 after buying an additional 2,951 shares during the period. Ridgewood Investments LLC raised its stake in Wipro by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider’s stock worth $25,000 after buying an additional 3,557 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings 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 worth $26,000 after buying an additional 3,631 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Wipro by 148.3% during 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 acquiring an additional 4,851 shares in the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.

Analysts Set New Price Targets

WIT has been the subject of a number of research analyst reports. StockNews.com upgraded Wipro from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. HSBC raised Wipro from a “reduce” rating to a “hold” rating in a research report on Monday, December 9th. Finally, UBS Group raised shares of Wipro from a “sell” rating to a “neutral” rating in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Wipro Stock Performance

Shares of WIT opened at $3.05 on Friday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The stock has a market cap of $31.84 billion, a P/E ratio of 21.00, a P/E/G ratio of 3.08 and a beta of 0.94. The business’s 50 day moving average price is $3.44 and its 200-day moving average price is $5.04. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79.

Wipro (NYSE:WIT) last released its earnings results on Friday, January 17th. The information technology services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. Equities research analysts anticipate that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Company 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.