SEI Investments Company (SEIC) Receives a Buy from Oppenheimer


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 $52.66, close to its 52-week low of $52.22.

Greene wrote:

“SEIC reported solid 3Q18 results as revenue grew ~6% Y/Y to ~$409M (vs. our/ Street’s $412/410M estimates) and adjusted EPS of $0.80 beat our/Street’s $0.77 estimates with the beat largely due to a low tax rate (pretax and LSV earnings were directionally in line with our expectations). Quarterly net sales were solid and accelerated to ~$28M; led again by Investment Managers. Management suggests SWP sales activity remains robust but deal closes remain hard to come by. We remain optimistic regarding SWP sales momentum, and PB&T’s long-term profitability trajectory. Our estimates are under review.”

According to TipRanks.com, Greene is a top 25 analyst with an average return of 20.6% and a 80.8% 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 Moderate Buy analyst consensus rating for SEI Investments Company with a $70 average price target.

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SEI Investments Company’s market cap is currently $8.26B and has a P/E ratio of 17.61. The company has a Price to Book ratio of 5.19.

Based on the recent corporate insider activity of 71 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.

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