MSCI (NYSE:MSCI) Receives Outperform Rating from Royal Bank of Canada

MSCI (NYSE:MSCI)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $638.00 target price on the technology company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 10.49% from the stock’s current price.

A number of other research firms also recently issued reports on MSCI. The Goldman Sachs Group raised their price target on MSCI from $526.00 to $590.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Evercore ISI began coverage on shares of MSCI in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $690.00 target price on the stock. UBS Group reduced their price target on shares of MSCI from $695.00 to $680.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of MSCI from $570.00 to $600.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Finally, Barclays upped their target price on shares of MSCI from $650.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $622.54.

MSCI Trading Down 0.3 %

MSCI stock traded down $1.52 during trading on Wednesday, hitting $577.41. 173,249 shares of the company’s stock were exchanged, compared to its average volume of 538,095. The business has a 50-day moving average price of $579.80 and a two-hundred day moving average price of $529.06. The stock has a market capitalization of $45.41 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 3.09 and a beta of 1.11. MSCI has a 52-week low of $439.95 and a 52-week high of $631.70.

MSCI (NYSE:MSCI) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.09. The business had revenue of $724.70 million during the quarter, compared to the consensus estimate of $716.15 million. MSCI had a net margin of 43.86% and a negative return on equity of 143.09%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.45 EPS. On average, equities research analysts anticipate that MSCI will post 14.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MSCI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of MSCI by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,615 shares of the technology company’s stock valued at $2,026,000 after acquiring an additional 165 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in MSCI by 7.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 48,601 shares of the technology company’s stock worth $27,239,000 after purchasing an additional 3,465 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in MSCI by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 187,388 shares of the technology company’s stock worth $105,022,000 after purchasing an additional 1,119 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in MSCI by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 10,955 shares of the technology company’s stock valued at $6,139,000 after purchasing an additional 35 shares during the last quarter. Finally, Norden Group LLC purchased a new position in shares of MSCI in the first quarter valued at $2,386,000. 89.97% of the stock is owned by institutional investors and hedge funds.

MSCI Company Profile

MSCI Inc, together with its subsidiaries, provides critical decision support tools and solutions for the investment community to manage investment processes worldwide. The Index segment provides indexes for use in various areas of the investment process, including indexed financial product, such as ETFs, mutual funds, annuities, futures, options, structured products, and over-the-counter derivatives; performance benchmarking; portfolio construction and rebalancing; and asset allocation, as well as licenses GICS and GICS Direct.