Arizona State Retirement System increased its stake in PowerSchool Holdings, Inc. (NYSE:PWSC – Free Report) by 15.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,977 shares of the company’s stock after acquiring an additional 2,124 shares during the quarter. Arizona State Retirement System’s holdings in PowerSchool were worth $306,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in PowerSchool by 247.8% in the 1st quarter. JPMorgan Chase & Co. now owns 137,255 shares of the company’s stock valued at $2,266,000 after purchasing an additional 97,789 shares during the period. MetLife Investment Management LLC grew its position in PowerSchool by 22.8% in the 1st quarter. MetLife Investment Management LLC now owns 24,839 shares of the company’s stock valued at $410,000 after purchasing an additional 4,613 shares during the period. Blair William & Co. IL grew its position in PowerSchool by 54.2% in the 1st quarter. Blair William & Co. IL now owns 122,454 shares of the company’s stock valued at $2,022,000 after purchasing an additional 43,039 shares during the period. Lord Abbett & CO. LLC acquired a new stake in PowerSchool in the 1st quarter valued at $11,702,000. Finally, Sei Investments Co. grew its position in PowerSchool by 2.6% in the 1st quarter. Sei Investments Co. now owns 79,000 shares of the company’s stock valued at $1,304,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 65.29% of the company’s stock.
Insider Activity at PowerSchool
In related news, insider Marcy Daniel sold 2,171 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $21.70, for a total value of $47,110.70. Following the sale, the insider now directly owns 281,949 shares in the company, valued at approximately $6,118,293.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Hardeep Gulati sold 19,844 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $21.75, for a total value of $431,607.00. Following the sale, the chief executive officer now directly owns 2,264,320 shares in the company, valued at approximately $49,248,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marcy Daniel sold 2,171 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $21.70, for a total value of $47,110.70. Following the completion of the sale, the insider now owns 281,949 shares in the company, valued at $6,118,293.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,029 shares of company stock worth $2,307,442. Company insiders own 1.10% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on PWSC. The Goldman Sachs Group lifted their price target on shares of PowerSchool from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Barclays lifted their price objective on shares of PowerSchool from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, September 15th. Raymond James lifted their price objective on shares of PowerSchool from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of PowerSchool in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective on shares of PowerSchool in a report on Friday, September 15th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, PowerSchool has a consensus rating of “Moderate Buy” and an average price target of $27.36.
Check Out Our Latest Research Report on PWSC
PowerSchool Price Performance
Shares of NYSE:PWSC opened at $21.00 on Thursday. The company’s 50-day moving average is $21.55 and its 200 day moving average is $20.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $4.22 billion, a P/E ratio of -161.54 and a beta of 0.96. PowerSchool Holdings, Inc. has a fifty-two week low of $16.41 and a fifty-two week high of $26.05.
PowerSchool (NYSE:PWSC – Get Free Report) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. PowerSchool had a negative net margin of 2.92% and a positive return on equity of 7.17%. The company had revenue of $173.90 million for the quarter, compared to the consensus estimate of $171.28 million. On average, equities research analysts forecast that PowerSchool Holdings, Inc. will post 0.51 earnings per share for the current year.
PowerSchool Profile
PowerSchool Holdings, Inc, together with its subsidiaries, offers cloud-based software to the K-12 education market. Its solution embedded in school workflows and is used on daily basis by educators, students, administrators, and parents in schools and districts. In addition, the company provides cloud-based technology platform helps schools and districts manage state reporting and related compliance, special education, finance, human resource, talent, registration, attendance, funding, learning, instruction, behavior, grading, college and career readiness, assessments, and analytics.
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