MSCI (NYSE:MSCI) Price Target Increased to $600.00 by Analysts at Wells Fargo & Company

MSCI (NYSE:MSCI) had its price target hoisted by analysts at Wells Fargo & Company from $570.00 to $600.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target points to a potential downside of 0.92% from the company’s previous close.

A number of other equities analysts have also recently issued reports on MSCI. Evercore ISI assumed coverage on shares of MSCI in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $690.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $638.00 target price on shares of MSCI in a research note on Wednesday, July 24th. The Goldman Sachs Group upped their target price on shares of MSCI from $526.00 to $590.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Redburn Atlantic upgraded shares of MSCI from a “neutral” rating to a “buy” rating and set a $680.00 target price on the stock in a research note on Wednesday. Finally, Argus upped their target price on shares of MSCI from $520.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $614.14.

MSCI Price Performance

NYSE:MSCI opened at $605.59 on Friday. The firm’s 50-day moving average price is $566.07 and its 200-day moving average price is $524.59. The company has a market capitalization of $47.63 billion, a PE ratio of 40.56, a P/E/G ratio of 3.21 and a beta of 1.11. MSCI has a 1-year low of $439.95 and a 1-year high of $617.39.

MSCI (NYSE:MSCI) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.55 by $0.09. The company had revenue of $707.90 million for the quarter, compared to analysts’ expectations of $696.41 million. MSCI had a net margin of 43.86% and a negative return on equity of 143.09%. MSCI’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.26 EPS. Equities analysts anticipate that MSCI will post 14.8 EPS for the current fiscal year.

Institutional Trading of MSCI

A number of institutional investors have recently bought and sold shares of MSCI. Principal Financial Group Inc. lifted its position in shares of MSCI by 74.9% during the second quarter. Principal Financial Group Inc. now owns 1,456,194 shares of the technology company’s stock worth $701,522,000 after purchasing an additional 623,712 shares during the last quarter. PineStone Asset Management Inc. lifted its position in shares of MSCI by 129.4% during the second quarter. PineStone Asset Management Inc. now owns 730,986 shares of the technology company’s stock worth $352,153,000 after purchasing an additional 412,389 shares during the last quarter. Findlay Park Partners LLP bought a new stake in shares of MSCI during the first quarter worth $114,836,000. Manning & Napier Advisors LLC bought a new stake in shares of MSCI during the second quarter worth $91,748,000. Finally, Swedbank AB bought a new stake in shares of MSCI during the first quarter worth $75,957,000. 89.97% of the stock is currently owned by institutional investors.

About MSCI

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.