74,140 Shares of SEI Investments Company $SEIC Bought by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 74,140 shares of the asset manager’s stock, valued at approximately $7,611,000.

Several other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC raised its position in shares of SEI Investments by 95.1% in the 3rd quarter. Fortitude Family Office LLC now owns 240 shares of the asset manager’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of SEI Investments by 96.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after acquiring an additional 152 shares during the period. Latitude Advisors LLC acquired a new stake in shares of SEI Investments during the 3rd quarter worth approximately $33,000. Root Financial Partners LLC boosted its position in shares of SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after acquiring an additional 141 shares in the last quarter. Finally, Provenance Wealth Advisors LLC acquired a new stake in shares of SEI Investments during the 3rd quarter worth approximately $53,000. 70.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on SEIC shares. Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Wells Fargo & Company started coverage on SEI Investments in a report on Friday, October 2nd. They issued an “overweight” rating and a $129.00 target price on the stock. Morgan Stanley lifted their price target on SEI Investments from $125.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Wall Street Zen cut SEI Investments from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $125.50.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 5,483 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $103.16, for a total value of $565,626.28. Following the completion of the transaction, the chairman directly owned 6,784,574 shares in the company, valued at approximately $699,896,653.84. This represents a 0.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 37,500 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total value of $4,151,625.00. Following the sale, the chief executive officer directly owned 192,815 shares in the company, valued at approximately $21,346,548.65. This trade represents a 16.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 73,777 shares of company stock valued at $7,899,863. 4.80% of the stock is currently owned by insiders.

SEI Investments Trading Up 3.0%

SEIC opened at $108.62 on Thursday. The company has a market cap of $12.88 billion, a P/E ratio of 18.89 and a beta of 0.97. The company has a current ratio of 4.31, a quick ratio of 4.23 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $105.77 and its 200-day moving average is $93.18. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $112.15.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. The business had revenue of $662.04 million during the quarter, compared to analysts’ expectations of $656.25 million. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 EPS. Equities research analysts predict that SEI Investments Company will post 6.31 earnings per share for the current fiscal year.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.