SEI Investments Co. (SEIC) stock surged 6.03% during intraday trading on Thursday, reflecting strong positive sentiment among investors.

The sharp move higher appears to be driven by a bullish analyst action. Piper Sandler raised its price target on SEI Investments to $109 from $102, while maintaining an Overweight rating on the shares.

Such upward revisions in price targets often signal increased confidence in a company's future earnings potential and can attract significant buying interest from the market.