A month has gone by since the last earnings report for SEI Investments (SEIC). Shares have added about 1.3% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is SEI due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. SEI Investments Q3 Earnings Meet, Revenues & Costs RiseSEI Investments’ third-quarter 2021 earnings of 97 cents per share were in line with the Zacks Consensus Estimate. The bottom line reflected 29% growth from the prior-year quarter.Results were aided by growth in revenues and an increase in AUM balance. These were offset by a rise in expenses.Net income was $138 million, up 24% from the year-ago quarter.Revenues, Expenses & AUM RiseTotal revenues were $485.3 million, up 14% year over year. The upswing reflects an increase in asset management, administration and distribution fees, and information processing and software servicing fees. The top line outpaced the Zacks Consensus Estimate of $481 million.Total expenses were $344.2 million, up 10% year over year. The rise was due to an increase in all cost components, except for consulting, outsourcing and professional fees, and facilities, supplies and other costs.Operating income increased 27% year over year to $141.1 million.As of Sep 30, 2021, AUM was $391.5 billion, reflecting a jump of 19% from the prior-year quarter. Client assets under administration (AUA) were $866.3 billion, up 15%. Client AUA did not include $13.7 billion related to Funds of Funds assets reported on Sep 30, 2021.Share Repurchase UpdateIn the reported quarter, SEI Investments bought back 2 million shares for $119.9 million.How Have Estimates Been Moving Since Then?It turns out, estimates review flatlined during the past month.VGM ScoresCurrently, SEI has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookSEI has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SEI Investments Company (SEIC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research