SEI Investments Q2 revenue rises 15%, beating estimates
SEI Investments Q2 revenue rises 15%, beating estimates
Overview
US asset management tech firm's Q2 revenue rose 15%, beating analyst expectations
Adjusted EPS for Q2 grew 38% year-over-year
Company repurchased 1.3 mln shares for $112.4 mln in Q2
Outlook
Company did not provide specific guidance for the current quarter or full year
Result Drivers
SALES MOMENTUM - Co said strong sales execution and new client wins, especially in Investment Managers and Private Banks, drove revenue and profit growth
MARGIN EXPANSION - Co attributed margin gains to operating leverage and strategic resource allocation
MARKET APPRECIATION - Co said higher market values and funding of alternative mandates boosted assets under management and administration
Company press release: ID:nPn7czbpxa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $641.62 mln | $632.57 mln (5 Analysts) |
Q2 EPS |
| $1.59 |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy"
Wall Street's median 12-month price target for SEI Investments Co is $115.00, about 17.8% above its July 21 closing price of $97.65
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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