Oppenheimer analyst Glenn Greene maintained a Buy rating on SEI Investments Company (NASDAQ: SEIC) yesterday and set a price target of $70. The company’s shares closed yesterday at $64.36.
Greene said:
“SEIC reported solid 2Q18 results as revenue grew ~9% Y/Y to ~$405M (vs. our/ Street’s $406M estimates) and adjusted EPS of $0.75 compared to our/Street’s $0.76 estimates. Quarterly net sales of $24M accelerated somewhat, and reflect continued Investment Manager strength, and four SWP wins including a new UK client. SWP sales activity remains robust but large deal closes remain hard to come by. SEI continues to progress on Wells conversion but a new timeline was not clarified. Importantly, SEI’s strategic relationship with Wells appears strong and unchanged. We remain optimistic long term regarding SWP sales momentum, and PB&T’s long- term profitability trajectory. We maintain our Outperform rating and $70 price target.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 22.8% and a 86.8% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.
SEI Investments Company has an analyst consensus of Moderate Buy, with a price target consensus of $81.
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SEI Investments Company’s market cap is currently $10.17B and has a P/E ratio of 22.90. The company has a Price to Book ratio of 6.30.
Based on the recent corporate insider activity of 77 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.
