Robeco Institutional Asset Management B.V. Purchases 336,825 Shares of Wipro Limited $WIT

Robeco Institutional Asset Management B.V. lifted its position in Wipro Limited (NYSE:WIT) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,607,526 shares of the information technology services provider’s stock after buying an additional 336,825 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Wipro were worth $12,118,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in WIT. Vest Financial LLC acquired a new position in Wipro in the second quarter valued at about $31,000. Curi Capital LLC acquired a new position in shares of Wipro in the 2nd quarter valued at approximately $31,000. Haven Private LLC bought a new stake in Wipro during the 2nd quarter worth approximately $39,000. CW Advisors LLC bought a new stake in Wipro during the 2nd quarter worth approximately $39,000. Finally, Rehmann Capital Advisory Group acquired a new stake in Wipro during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 2.36% of the company’s stock.

Wipro Trading Down 0.9%

Shares of WIT opened at $2.91 on Friday. The stock has a market capitalization of $30.42 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 17.74 and a beta of 1.03. Wipro Limited has a 12 month low of $2.55 and a 12 month high of $3.79. The firm has a fifty day simple moving average of $2.78 and a 200 day simple moving average of $2.79.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WIT. CLSA downgraded shares of Wipro from an “outperform” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wipro in a research note on Thursday, October 30th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Wipro presently 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.