SEI Investments Q2 revenue rises 15%, beating estimates

SEI Investments said second-quarter revenue rose 15% year-over-year, beating analyst expectations, and adjusted EPS grew 38%.

The company reported Q2 revenue of $641.62 million versus a consensus estimate of $632.57 million from five analysts. Q2 EPS was $1.59.

The US asset management technology firm said strong sales execution and new client wins, especially in Investment Managers and Private Banks, drove revenue and profit growth.

SEI attributed margin gains to operating leverage and strategic resource allocation, and said higher market values and funding of alternative mandates boosted assets under management and administration.

The company did not provide specific guidance for the current quarter or full year.

SEI repurchased 1.3 million shares for $112.4 million in the quarter.