Conestoga Capital Advisors LLC Makes New $7.61 Million Investment in SEI Investments Company $SEIC

Key Points

• Conestoga Capital Advisors opened a position in SEI Investments, buying 74,140 shares valued at approximately $7.61 million in the third quarter.
• SEI reported quarterly earnings of $1.64 per share, beating analysts’ $1.58 estimate; revenue rose 14.4% year over year to $662 million.
• Analysts had a consensus Buy rating and an average price target of $125.50, compared with the article’s reported share price of $108.62.

Conestoga Capital Advisors LLC acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 74,140 shares of the asset manager's stock, valued at approximately $7,611,000. Conestoga Capital Advisors LLC owned about 0.06% of SEI Investments at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SEIC. BlackRock Inc. bought a new stake in shares of SEI Investments in the 2nd quarter valued at about $870,745,000. Bank of America Corp DE bought a new position in SEI Investments during the second quarter worth about $255,067,000. Dimensional Fund Advisors LP increased its position in SEI Investments by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager's stock worth $146,984,000 after buying an additional 20,054 shares during the last quarter. First Trust Advisors LP increased its position in SEI Investments by 1.2% during the first quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager's stock worth $143,025,000 after buying an additional 21,731 shares during the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new position in SEI Investments during the second quarter worth approximately $87,924,000. 70.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on SEIC shares. Wells Fargo & Company initiated coverage on SEI Investments in a research note on Friday, October 2nd. They issued an "overweight" rating and a $129.00 price objective on the stock. Keefe, Bruyette & Woods raised their price target on SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. William Blair raised shares of SEI Investments from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. UBS Group reaffirmed a "buy" rating and set a $125.00 target price on shares of SEI Investments in a report on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of SEI Investments from a "buy" rating to a "hold" rating in a report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $125.50.

SEI Investments Price Performance

NASDAQ:SEIC opened at $108.62 on Thursday. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $112.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.23 and a current ratio of 4.31. The firm's 50-day simple moving average is $105.77 and its 200 day simple moving average is $93.18. The firm has a market cap of $12.88 billion, a price-to-earnings ratio of 18.89 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results 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. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. The firm had revenue of $662.04 million for the quarter, compared to analyst estimates of $656.25 million. During the same quarter in the prior year, the business posted $1.30 EPS. The business's revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts predict that SEI Investments Company will post 6.31 earnings per share for the current year.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 5,483 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $103.16, for a total transaction of $565,626.28. Following the sale, the chairman owned 6,784,574 shares of the company's stock, valued at $699,896,653.84. This represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Lane sold 2,400 shares of the firm's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $102.78, for a total value of $246,672.00. Following the transaction, the executive vice president owned 39,581 shares in the company, valued at approximately $4,068,135.18. This trade represents a 5.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 73,777 shares of company stock worth $7,899,863. Corporate insiders own 4.80% of the company's stock.

About SEI Investments

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.

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