Parnassus Investments LLC Has $20.99 Million Stock Holdings in MSCI Inc. (NYSE:MSCI)

Parnassus Investments LLC grew its position in shares of MSCI Inc. (NYSE:MSCI) by 27.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,002 shares of the technology company’s stock after acquiring an additional 7,830 shares during the quarter. Parnassus Investments LLC’s holdings in MSCI were worth $20,987,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Frank Rimerman Advisors LLC boosted its stake in shares of MSCI by 0.9% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,968 shares of the technology company’s stock worth $1,147,000 after buying an additional 17 shares during the last quarter. Conning Inc. boosted its position in MSCI by 4.1% during the second quarter. Conning Inc. now owns 479 shares of the technology company’s stock valued at $231,000 after purchasing an additional 19 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in MSCI by 3.8% in the second quarter. Capital Advisors Ltd. LLC now owns 542 shares of the technology company’s stock valued at $261,000 after purchasing an additional 20 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of MSCI by 5.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 423 shares of the technology company’s stock worth $204,000 after purchasing an additional 20 shares during the last quarter. Finally, Planning Capital Management Corp raised its stake in shares of MSCI by 35.1% during the 3rd quarter. Planning Capital Management Corp now owns 77 shares of the technology company’s stock worth $45,000 after purchasing an additional 20 shares in the last quarter. 89.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MSCI has been the subject of several analyst reports. Barclays boosted their target price on shares of MSCI from $650.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Evercore ISI started coverage on shares of MSCI in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $690.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $638.00 target price on shares of MSCI in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target on MSCI from $570.00 to $600.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Finally, Argus raised their price objective on MSCI from $520.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $631.83.

MSCI Price Performance

MSCI stock opened at $593.12 on Tuesday. MSCI Inc. has a fifty-two week low of $439.95 and a fifty-two week high of $631.70. The stock has a market capitalization of $46.48 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 3.09 and a beta of 1.11. The business’s fifty day moving average price is $584.32 and its two-hundred day moving average price is $539.21.

MSCI (NYSE:MSCI) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.09. The business had revenue of $724.70 million for the quarter, compared to analyst estimates of $716.15 million. MSCI had a net margin of 43.06% and a negative return on equity of 162.06%. MSCI’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $3.45 earnings per share. Research analysts expect that MSCI Inc. will post 14.98 EPS for the current year.

MSCI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $1.60 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.08%. MSCI’s payout ratio is 42.02%.

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.