In a report released today, Glenn Greene from Oppenheimer maintained a Buy rating on SEI Investments Company (SEIC), with a price target of $60. The company’s shares closed yesterday at $46.70, close to its 52-week low of $42.27.
Greene noted:
“Largely to reflect recent market depreciation, and SEI’s perhaps 65-70% market sensitivity, we reduce our estimates. Notably, we reduce our CY19 estimate by approximately 9%. Quarterly net sales have been solid, but not stellar, YTD led by Investment Managers (IM) strength. Management suggests SWP sales activity remains robust, but deal closes remain hard to come by. We are hopeful SEI’s recent organizational and leadership changes could spur improved SWP sales success. We remain optimistic long-term regarding SWP sales momentum, and PB&T’s long-term profitability trajectory. That said, recent market uncertainty could further impact sales cycles and asset flows. Maintain Outperform rating and moderate PT to $60 (from $68).”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 16.9% and a 72.3% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for SEI Investments Company with a $67.50 average price target.
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SEI Investments Company’s market cap is currently $7.26B and has a P/E ratio of 14.78. The company has a Price to Book ratio of 4.45.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is neutral on the stock.
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SEI Investments Co. engages in the provision of investment processing, investment management, and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses.
