SEI Investments (SEIC): SWP Momentum Building - Oppenheimer

After recently hosting meetings with SEI Investments (NASDAQ: SEIC), Oppenheimer analyst, Glenn Greene, walked away with increased optimism regarding SWP momentum, and PB&T's longer-term profitability trajectory. The recent Regions win appears to have spurred increased SWP sales activity. While sales cycles remain long, SEI anticipates most of its ~100 Trust 3000 clients to make decisions within the next three years—implies notable SWP sales acceleration. SEI continues to anticipate PB&T margin improvement toward historical levels (i.e., 30% + from ~10%) over time, as SWP and the AMD businesses scale. In addition, advisor momentum for SWP appears to have inflected following recent advisor beta tests. SEI remains poised for a multi-year growth and profitability expansion run.

The firm made no change to Outperform rating or $56 PT.

For an analyst ratings summary and ratings history on SEI Investments click here. For more ratings news on SEI Investments click here.

Shares of SEI Investments closed at $49.94 yesterday.

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