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

Boston Partners acquired a new stake in Wipro Limited (NYSE:WIT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 987,801 shares of the information technology services provider's stock, valued at approximately $3,497,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in Wipro by 36.2% in the third quarter. Victory Capital Management Inc. now owns 206,106 shares of the information technology services provider's stock worth $1,336,000 after acquiring an additional 54,791 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Wipro by 42.3% in the third quarter. Natixis Advisors LLC now owns 160,905 shares of the information technology services provider's stock worth $1,043,000 after purchasing an additional 47,800 shares during the last quarter. Caprock Group LLC raised its holdings in Wipro by 6.5% during the 3rd quarter. Caprock Group LLC now owns 160,470 shares of the information technology services provider's stock valued at $1,040,000 after buying an additional 9,741 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Wipro in the third quarter worth about $610,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Wipro by 116.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,610,319 shares of the information technology services provider's stock valued at $10,435,000 after purchasing an additional 867,516 shares during the period. 2.36% of the stock is currently owned by institutional investors.

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Wipro Stock Performance

Shares of WIT stock traded down $0.04 during mid-day trading on Wednesday, reaching $3.11. 5,743,173 shares of the company's stock traded hands, compared to its average volume of 5,438,158. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $32.47 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The firm has a 50 day moving average price of $3.43 and a two-hundred day moving average price of $4.98.

Wipro (NYSE:WIT - Get Free Report) last released its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. On average, research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a research report 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 upgraded Wipro from a "sell" rating to a "neutral" rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

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.