Oppenheimer analyst Glenn Greene raised his price target for SEI Investments to $67 from $60 as he remains optimistic regarding SWP sales momentum, and PB&T's longer term profitability trajectory. The Regions win and imminent conversion have spurred increased SWP sales activity with existing clients and new logos, he contends. The analyst continues to believe SEI remains poised for a multiyear growth and profitability expansion run, and 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."