PowerSchool (NYSE:PWSC) Price Target Cut to $24.00 by Analysts at Piper Sandler

PowerSchool (NYSE:PWSC) had its price objective decreased by Piper Sandler from $29.00 to $24.00 in a research report sent to investors on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group upped their price target on shares of PowerSchool from $27.00 to $30.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. TheStreet lowered PowerSchool from a b- rating to a c rating in a report on Monday, January 29th. UBS Group reduced their price target on PowerSchool from $25.00 to $20.00 and set a neutral rating for the company in a research report on Wednesday. Cantor Fitzgerald reaffirmed an overweight rating and set a $25.00 price objective on shares of PowerSchool in a research report on Thursday. Finally, Barclays reduced their target price on shares of PowerSchool from $28.00 to $23.00 and set an overweight rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PowerSchool has a consensus rating of Moderate Buy and a consensus price target of $25.44.

PowerSchool Price Performance

NYSE:PWSC traded down $0.01 during midday trading on Friday, hitting $18.11. The stock had a trading volume of 1,504,568 shares, compared to its average volume of 1,664,861. The company has a quick ratio of 0.30, a current ratio of 0.24 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average of $19.59 and a 200 day moving average of $21.71. PowerSchool has a one year low of $16.15 and a one year high of $25.16.

PowerSchool (NYSE:PWSC) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). PowerSchool had a negative net margin of 5.37% and a positive return on equity of 6.13%. The firm had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $183.35 million. As a group, equities analysts predict that PowerSchool will post 0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CMO Fred Studer sold 6,065 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $20.30, for a total value of $123,119.50. Following the sale, the chief marketing officer now directly owns 163,685 shares of the company’s stock, valued at approximately $3,322,805.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PowerSchool news, CEO Hardeep Gulati sold 6,171 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $21.33, for a total value of $131,627.43. Following the completion of the transaction, the chief executive officer now directly owns 1,905,667 shares of the company’s stock, valued at $40,647,877.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Fred Studer sold 6,065 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $20.30, for a total transaction of $123,119.50. Following the sale, the chief marketing officer now directly owns 163,685 shares in the company, valued at approximately $3,322,805.50. The disclosure for this sale can be found here. Insiders sold 182,706 shares of company stock worth $3,818,727 in the last 90 days. Insiders own 0.60% of the company’s stock.

Institutional Trading of PowerSchool

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of PowerSchool by 13.8% during the 3rd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PowerSchool by 42.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,913 shares of the company’s stock worth $247,000 after purchasing an additional 3,240 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 purchasing an additional 89,213 shares during the period. Fifth Third Bancorp purchased a new stake in shares of PowerSchool in the third quarter valued at approximately $35,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of PowerSchool by 135.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,500 shares of the company’s stock worth $193,000 after buying an additional 4,885 shares during the period. 65.29% of the stock is owned by hedge funds and other institutional investors.

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.