Oppenheimer Asset Management Inc. Sells 647 Shares of PowerSchool Holdings, Inc. (NYSE:PWSC)

Oppenheimer Asset Management Inc. reduced its holdings in PowerSchool Holdings, Inc. (NYSE:PWSC) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,652 shares of the company’s stock after selling 647 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.05% of PowerSchool worth $2,321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Truist Financial Corp bought a new position in shares of PowerSchool in the fourth quarter worth approximately $314,000. Charles Schwab Investment Management Inc. raised its position in shares of PowerSchool by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 445,457 shares of the company’s stock valued at $10,495,000 after buying an additional 6,027 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PowerSchool by 14.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,655,296 shares of the company’s stock worth $39,001,000 after acquiring an additional 207,237 shares during the last quarter. Principal Financial Group Inc. grew its position in PowerSchool by 37.5% in the fourth quarter. Principal Financial Group Inc. now owns 40,059 shares of the company’s stock worth $944,000 after acquiring an additional 10,932 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in PowerSchool by 10.9% in the fourth quarter. Corient Private Wealth LLC now owns 20,180 shares of the company’s stock valued at $475,000 after acquiring an additional 1,991 shares during the last quarter. Hedge funds and other institutional investors own 65.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PWSC. Baird R W cut PowerSchool from a “strong-buy” rating to a “hold” rating in a report on Friday, June 7th. Piper Sandler reiterated a “neutral” rating and set a $22.80 price target (down from $24.00) on shares of PowerSchool in a research report on Friday, June 7th. Jefferies Financial Group restated a “hold” rating and issued a $22.80 price objective (down from $30.00) on shares of PowerSchool in a report on Monday, June 10th. William Blair reaffirmed a “market perform” rating on shares of PowerSchool in a report on Friday, June 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of PowerSchool in a research note on Friday, June 7th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.02.

PowerSchool Stock Performance

Shares of NYSE:PWSC opened at $22.78 on Wednesday. PowerSchool Holdings, Inc. has a 12 month low of $16.15 and a 12 month high of $25.16. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -94.90 and a beta of 1.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $22.61 and a 200-day moving average price of $21.25.

PowerSchool (NYSE:PWSC) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $191.59 million for the quarter, compared to analysts’ expectations of $195.32 million. PowerSchool had a negative net margin of 7.51% and a positive return on equity of 6.10%. PowerSchool’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS. As a group, equities analysts anticipate that PowerSchool Holdings, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling at PowerSchool

In related news, CEO Hardeep Gulati sold 29,740 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $22.33, for a total transaction of $664,094.20. Following the sale, the chief executive officer now owns 1,685,927 shares of the company’s stock, valued at $37,646,749.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PowerSchool news, CTO Devendra Singh sold 2,235 shares of PowerSchool stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $22.33, for a total value of $49,907.55. Following the completion of the sale, the chief technology officer now owns 394,377 shares of the company’s stock, valued at approximately $8,806,438.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Hardeep Gulati sold 29,740 shares of PowerSchool stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $22.33, for a total value of $664,094.20. Following the completion of the sale, the chief executive officer now directly owns 1,685,927 shares of the company’s stock, valued at approximately $37,646,749.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,790 shares of company stock valued at $3,155,772. 0.60% of the stock is currently owned by company insiders.

PowerSchool Profile

PowerSchool Holdings, Inc, together with its subsidiaries, offers cloud-based software to the K-12 education market in the United States, Canada, and internationally. Its solution embedded in school workflows and is used on daily basis by educators, students, administrators, and parents in schools and districts.