PowerSchool (NYSE:PWSC) Price Target Cut to $23.00

PowerSchool (NYSE:PWSC - Free Report) had its price target cut by Barclays from $28.00 to $23.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted their price objective on PowerSchool from $27.00 to $30.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Piper Sandler reissued an overweight rating and set a $29.00 price objective on shares of PowerSchool in a research report on Tuesday, April 23rd. TheStreet cut PowerSchool from a b- rating to a c rating in a research report on Monday, January 29th. UBS Group cut their price objective on PowerSchool from $25.00 to $20.00 and set a neutral rating for the company in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $26.00 price target on shares of PowerSchool in a report on Wednesday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $26.56.

PowerSchool Stock Up 15.1 %

Shares of NYSE:PWSC traded up $2.51 on Wednesday, reaching $19.15. The company had a trading volume of 8,807,009 shares, compared to its average volume of 811,878. PowerSchool has a twelve month low of $16.15 and a twelve month high of $25.16. The stock has a 50-day moving average price of $19.74 and a 200 day moving average price of $21.77. The stock has a market capitalization of $3.88 billion, a P/E ratio of -100.89, a P/E/G ratio of 0.48 and a beta of 0.98. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.

PowerSchool (NYSE:PWSC - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). PowerSchool had a positive return on equity of 6.08% and a negative net margin of 4.46%. The company had revenue of $182.14 million during the quarter, compared to analyst estimates of $183.35 million. On average, equities analysts expect that PowerSchool will post 0.61 EPS for the current year.

Insider Activity

In related news, CEO Hardeep Gulati sold 39,333 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $20.89, for a total transaction of $821,666.37. Following the sale, the chief executive officer now directly owns 1,997,821 shares in the company, valued at approximately $41,734,480.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PowerSchool news, CTO Devendra Singh sold 2,750 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $20.87, for a total transaction of $57,392.50. Following the sale, the chief technology officer now owns 338,769 shares of the company's stock, valued at approximately $7,070,109.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hardeep Gulati sold 39,333 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $20.89, for a total transaction of $821,666.37. Following the sale, the chief executive officer now directly owns 1,997,821 shares in the company, valued at approximately $41,734,480.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,706 shares of company stock worth $3,818,727. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of PowerSchool by 13.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 234,131 shares of the company's stock valued at $5,305,000 after acquiring an additional 28,454 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PowerSchool by 42.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,913 shares of the company's stock valued at $247,000 after acquiring an additional 3,240 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of PowerSchool by 27.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 419,595 shares of the company's stock valued at $9,508,000 after acquiring an additional 89,213 shares during the period. CHICAGO TRUST Co NA raised its position in shares of PowerSchool by 25.4% in the 3rd quarter. CHICAGO TRUST Co NA now owns 14,805 shares of the company's stock valued at $335,000 after acquiring an additional 3,000 shares during the period. Finally, Y.D. More Investments Ltd raised its position in shares of PowerSchool by 112.2% in the 3rd quarter. Y.D. More Investments Ltd now owns 103,221 shares of the company's stock valued at $2,339,000 after acquiring an additional 54,580 shares during the period. Institutional investors own 65.29% of the company's stock.

About PowerSchool

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.