NewEdge Wealth LLC Has $22.94 Million Holdings in PowerSchool Holdings, Inc. (NYSE:PWSC)

NewEdge Wealth LLC lessened its position in PowerSchool Holdings, Inc. (NYSE:PWSC - Free Report) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 973,693 shares of the company's stock after selling 52,871 shares during the quarter. NewEdge Wealth LLC owned about 0.48% of PowerSchool worth $22,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverbridge Partners LLC increased its stake in shares of PowerSchool by 6.7% in the fourth quarter. Riverbridge Partners LLC now owns 1,552,773 shares of the company's stock worth $36,583,000 after purchasing an additional 97,643 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of PowerSchool by 30.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,430 shares of the company's stock worth $9,957,000 after buying an additional 101,955 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of PowerSchool by 27.0% in the third 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. Bank of New York Mellon Corp grew its stake in shares of PowerSchool by 13.8% in the third quarter. Bank of New York Mellon Corp now owns 234,131 shares of the company's stock worth $5,305,000 after acquiring an additional 28,454 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in PowerSchool during the third quarter worth $373,000. Institutional investors and hedge funds own 65.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PWSC. UBS Group increased their price target on shares of PowerSchool from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, December 15th. TheStreet lowered PowerSchool from a "b-" rating to a "c" rating in a research note on Monday, January 29th. The Goldman Sachs Group raised 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. Finally, Piper Sandler restated an "overweight" rating and set a $29.00 price objective on shares of PowerSchool in a research report on Wednesday, March 6th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.67.

Insider Transactions at PowerSchool

In other news, CEO Hardeep Gulati sold 39,333 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $20.89, for a total value of $821,666.37. Following the transaction, the chief executive officer now directly owns 1,997,821 shares of the company's stock, valued at approximately $41,734,480.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Devendra Singh sold 2,750 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $20.87, for a total value of $57,392.50. Following the completion of the sale, the chief technology officer now owns 338,769 shares of the company's stock, valued at $7,070,109.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Hardeep Gulati sold 39,333 shares of the business's 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 completion of the transaction, the chief executive officer now owns 1,997,821 shares of the company's stock, valued at approximately $41,734,480.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,535 shares of company stock valued at $3,687,100. Corporate insiders own 1.10% of the company's stock.

PowerSchool Price Performance

PowerSchool stock traded down $0.10 during mid-day trading on Friday, hitting $20.61. 700,929 shares of the company were exchanged, compared to its average volume of 605,534. The company has a market capitalization of $4.18 billion, a PE ratio of -108.47, a price-to-earnings-growth ratio of 0.62 and a beta of 0.89. The business has a fifty day moving average of $21.88 and a 200 day moving average of $22.29. PowerSchool Holdings, Inc. has a 1-year low of $16.41 and a 1-year high of $25.16. 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 earnings results on Monday, February 26th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The firm had revenue of $182.14 million for the quarter, compared to analyst estimates of $183.35 million. PowerSchool had a positive return on equity of 6.08% and a negative net margin of 4.46%. As a group, sell-side analysts expect that PowerSchool Holdings, Inc. will post 0.61 earnings per share for the current year.

PowerSchool Company 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.

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