| Over a week ago | ||||
Reports Q4 revenue… Reports Q4 revenue $456.6M, consensus $454.51M. | ||||
| Over a month ago | ||||
SEI announced an expanded… SEI announced an expanded strategic partnership with Canoe Intelligence to automate and bring new efficiencies to the alternative investment document and data workflows within SEI's Archway Platform. The Archway Platform is delivered by SEI Family Office Services, a leading provider of technology and technology-enabled service offerings to family offices, financial institutions, and the ultra-high-net-worth clients they serve. SEI Family Office Services will leverage Canoe's industry-leading alternatives document collection and data extraction technologies for their outsourced service clients, enhancing SEI Family Office Services' ability to scale its operations and deliver exceptional value to their end-clients who invest in alternative assets. Since 2020, Canoe and SEI Family Office Services have worked together to deliver alternative investment data more accurately and efficiently from Canoe to the Archway Platform for mutual clients. This integration has empowered users of both systems to seamlessly input, track, and report on alternative investment data as a part of their holistic wealth picture. | ||||
Oppenheimer analyst Glenn… Oppenheimer analyst Glenn Greene raised the firm's price target on SEI Investments to $67 from $59 and keeps an Outperform rating on the shares following the company's Investor Day. The analyst highlights some key incremental points such as doubling revenue to $4B in 5-7 years; embracing risks to create new products; open-minded approach to bringing outside ideas to supplement organic growth; and increasing client penetration. | ||||
Investor meeting to be… Investor meeting to be held on November 15 at 8:30 am. Webcast Link | ||||
Investor meeting to be… Investor meeting to be held on November 15 at 8:30 am. Webcast Link | ||||
Investor meeting to be… Investor meeting to be held on November 15 at 8:30 am. Webcast Link | ||||
| Over a quarter ago | ||||
Reports Q3 revenue… Reports Q3 revenue $471.33M, consensus $462.19M. "Our third-quarter financial results reflect strong sales activity from market adoption of our solutions. Revenue and profits were impacted by lower capital market performance, one-time costs associated with our voluntary separation program, and continued inflationary pressures on costs. All of our markets are facing a changing landscape, and while this change is challenging, we believe it reinforces growth opportunity for SEI," said CEO Ryan Hicke. "We will continue to take the important and necessary steps to invest in our talent and capabilities, while aligning our company for organic and inorganic growth. This is an exciting time for SEI, and we will capitalize on our unmatched position at the intersection of asset management and technology." | ||||
SEI announced the global… SEI announced the global alignment of its asset management businesses and related units, which will be led by Executive Vice President Wayne Withrow, to capitalize on market opportunities and accelerate the company's next chapter of growth. The new structure is designed to strengthen SEI's offerings and deepen relationships, helping clients build brave futures. Withrow said: "The future of asset management requires a complete experience tailored to investors' evolving needs. By bringing together the breadth of our capabilities and depth of our asset management expertise globally, we provide our clients the combined power of investment solutions, interconnected technology, and data intelligence. This complete-and personalized-experience helps them manage uncertainty, connect to what matters most, and make confident decisions for the future." | ||||
William Blair analyst… William Blair analyst Jeff Schmitt assumed coverage of SEI Investments with a Market Perform rating and no price target. The wealthtech sector companies are software and solution providers for a broad range of participants in the wealth management ecosystems, Schmitt tells investors in a research note. The analyst has a positive outlook on the wealthtech sector over the longer term. SEI's revenue growth is the weakest in the group at 7%-8% historically, while its margin expansion potential is limited, Schmitt contends. He sees potential upside of 20% over the next 12-18 months, "meaning outperformance is unlikely." | ||||
Morgan Stanley analyst… Morgan Stanley analyst Ryan Kenny lowered the firm's price target on SEI Investments to $52 from $55 and keeps an Underweight rating on the shares, noting that SEI reported net sales events of "only" $8.8M in the quarter, a "large step down" from the $16-36M range they've been delivering over the prior four quarters. Following the report, which also featured SEI's "lowest pre-tax margin in almost a decade," Kenny is lowering his 2022 and 2023 EPS estimates on lower revenues, lower LSV earnings and a higher tax rate. | ||||
