Wipro Limited (NYSE:WIT) Shares Sold by Boston Partners

Boston Partners lessened its stake in shares of Wipro Limited (NYSE:WIT – Get Rating) by 58.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 118,994 shares of the information technology services provider’s stock after selling 165,138 shares during the period. Boston Partners’ holdings in Wipro were worth $45,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bleakley Financial Group LLC acquired a new stake in Wipro during the 4th quarter valued at $100,000. Robeco Institutional Asset Management B.V. acquired a new stake in Wipro during the 4th quarter valued at $3,810,000. Cable Hill Partners LLC acquired a new stake in Wipro during the 4th quarter valued at $226,000. Ieq Capital LLC acquired a new position in shares of Wipro in the fourth quarter worth $51,000. Finally, Deuterium Capital Management LLC acquired a new position in shares of Wipro in the fourth quarter worth $85,000. Institutional investors and hedge funds own 2.12% of the company’s stock.

Wipro Trading Up 0.2 %

Wipro stock opened at $4.66 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 2.46. The company has a market capitalization of $25.52 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.90 and a beta of 0.84. Wipro Limited has a one year low of $4.32 and a one year high of $6.31. The company’s fifty day moving average price is $4.55 and its two-hundred day moving average price is $4.73.

Wall Street Analysts Forecast Growth

WIT has been the topic of a number of research reports. Sanford C. Bernstein downgraded shares of Wipro from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $5.10 to $3.90 in a research note on Wednesday, March 22nd. StockNews.com initiated coverage on shares of Wipro in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Seven analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.49.

Wipro Profile

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Wipro Ltd. is a global information technology, consulting and outsourcing company, which engages in the development and integration of solutions. It operates through the following segments: Information Technology Services, India State Run Enterprise (ISRE), and Information Technology Products. The Information Technology Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development, and hardware and software design to enterprises worldwide.