Oppenheimer analyst Glenn Greene raised his price target for SEI Investments to $60 from $55 saying that while SWP sales activity has been lumpy, he senses building momentum, and suspects he will see evidence of improved sales activity, and perhaps margin leverage, prior to year-end. The analyst reiterates an Outperform rating on the shares.

Reports Q1 revenue $511.58M, consensus $510.41M. "We entered 2024 with continued momentum, reflecting our strategic focus on increasing sales and profitability across SEI. In the first quarter, we delivered strong topline growth and margin expansion-with notable sales and implementation activity in our technology and investment processing businesses," said CEO Ryan Hicke. "We are well-positioned to capitalize on opportunities in the markets we serve globally. Our strong financial position, unmatched set of capabilities, and unique ability to connect the financial services ecosystem enable us to deliver comprehensive solutions to drive growth and deliver long-term value for our clients and shareholders."