Robeco Institutional Asset Management B.V. Buys 2,120,454 Shares of Wipro Limited (NYSE:WIT)

Robeco Institutional Asset Management B.V. raised its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 147.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,562,214 shares of the information technology services provider's stock after acquiring an additional 2,120,454 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Wipro were worth $12,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC increased its position in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 3,557 shares during the last quarter. PFG Investments LLC bought a new stake in Wipro during the fourth quarter valued at approximately $43,000. Fulton Bank N.A. purchased a new stake in Wipro during the fourth quarter valued at approximately $44,000. Fragasso Financial Advisors Inc purchased a new position in shares of Wipro during the 4th quarter worth $47,000. Finally, Clarendon Private LLC bought a new stake in shares of Wipro during the 4th quarter valued at $52,000. Institutional investors own 2.36% of the company's stock.

Wall Street Analyst Weigh In

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

Wipro Price Performance

Shares of NYSE WIT traded up $0.03 during mid-day trading on Tuesday, reaching $3.71. The company's stock had a trading volume of 4,854,944 shares, compared to its average volume of 6,175,143. The stock has a fifty day moving average of $4.36 and a two-hundred day moving average of $5.67. The firm has a market capitalization of $38.74 billion, a PE ratio of 25.55, a P/E/G ratio of 3.10 and a beta of 0.91. Wipro Limited has a 52 week low of $2.55 and a 52 week high of $3.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83.

Wipro (NYSE:WIT - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that Wipro Limited will post 0.14 EPS for the current fiscal year.

Wipro 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.