UPDATE: Stifel Nicolaus Raises PT on SEI Investments to $25.50

Stifel Nicolaus is out with its report today on SEI Investments SEIC, raising its PT from $23.50 to $25.50. In a note to clients, Stifel Nicolaus writes, "No big GWP signings announced, but prospecting activity and the pipeline remain strong. Optimism about new client signings is still pronounced, but there remains uncertainty about the timing and ultimate payoff of the new platform. No change to estimates, but we are increasing our price target to $25.50 or 17X 2012 EPS." Shares of SEIC closed Wednesday at $22.47.