Robeco Institutional Asset Management B.V. Has $9.34 Million Stock Position in Wipro Limited (NYSE:WIT)

Robeco Institutional Asset Management B.V. reduced its holdings in Wipro Limited (NYSE:WIT - Free Report) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,441,760 shares of the information technology services provider's stock after selling 166,519 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Wipro were worth $9,343,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Wipro by 37.8% in the third quarter. GAMMA Investing LLC now owns 8,841 shares of the information technology services provider's stock valued at $57,000 after acquiring an additional 2,426 shares in the last quarter. Mayflower Financial Advisors LLC purchased a new position in shares of Wipro in the second quarter worth about $64,000. Oppenheimer & Co. Inc. acquired a new position in shares of Wipro during the 1st quarter worth approximately $60,000. Abacus Wealth Partners LLC purchased a new position in shares of Wipro during the 3rd quarter worth $71,000. Finally, Werba Rubin Papier Wealth Management acquired a new position in Wipro in the 3rd quarter valued at about $71,000. Hedge funds and other institutional investors own 2.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WIT. StockNews.com upgraded shares of Wipro from a "hold" rating to a "buy" rating in a report on Tuesday, October 29th. Investec downgraded shares of Wipro from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $5.60.

Wipro Stock Up 0.9 %

Wipro stock traded up $0.06 during mid-day trading on Friday, hitting $6.86. The company had a trading volume of 1,003,787 shares, compared to its average volume of 2,466,385. Wipro Limited has a 1 year low of $4.49 and a 1 year high of $7.01. The stock has a market cap of $35.84 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 4.61 and a beta of 0.89. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $6.47 and a 200 day moving average of $6.05.

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.