Oppenheimer analyst Glenn Greene maintained a Buy rating on SEI Investments Company (NASDAQ: SEIC) today and set a price target of $70. The company’s shares closed yesterday at $62.78.
Greene wrote:
“Following meetings with SEI management, we remain optimistic regarding SWP and PB&T’s longer term profitability trajectory. That said, SWP sales activity remains sluggish and disappointing. Encouragingly, SEI still anticipates a 20-25% like-for- like revenue lift as clients transition to SWP from T3K. Investment Managers (IM) maintains strong sales and revenue momentum; we anticipate sustained double- digit revenue growth for some time. Also, Advisors maintains solid momentum with incremental growth opportunities as the advisor conversion to SWP is completed by late 1Q19. We continue to believe SEI remains poised for a multi-year growth/ profitability run, although predicting timing is difficult. $70 PT.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 22.2% and a 85.1% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.
Currently, the analyst consensus on SEI Investments Company is a Moderate Buy with an average price target of $74.33.
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Based on SEI Investments Company’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $122 million. In comparison, last year the company had a net profit of $91.77 million.
Based on the recent corporate insider activity of 72 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.
