SEI Investments price target lowered to $58 from $64 at Piper Sandler

Piper Sandler lowered the firm’s price target on SEI Investments to $58 from $64 and keeps a Neutral rating on the shares following Q3 results. While Piper is “encouraged” by positive comments about the Private Banks’ long-term margin prospects, the firm believes it will take time to realize these benefits and to reaccelerate firmwide revenue growth.