Mackenzie Financial Corp Raises Stock Position in PowerSchool Holdings, Inc. (NYSE:PWSC)

Mackenzie Financial Corp grew its holdings in shares of PowerSchool Holdings, Inc. (NYSE:PWSC) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,823,474 shares of the company’s stock after purchasing an additional 50,094 shares during the period. Mackenzie Financial Corp owned about 0.90% of PowerSchool worth $42,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in PowerSchool by 8.9% during the third quarter. Wellington Management Group LLP now owns 7,101,238 shares of the company’s stock worth $160,914,000 after purchasing an additional 580,969 shares during the period. BlackRock Inc. increased its stake in PowerSchool by 5.2% during the second quarter. BlackRock Inc. now owns 3,807,738 shares of the company’s stock worth $72,880,000 after purchasing an additional 188,610 shares during the period. Vanguard Group Inc. increased its stake in PowerSchool by 0.6% during the first quarter. Vanguard Group Inc. now owns 3,629,874 shares of the company’s stock worth $59,929,000 after purchasing an additional 20,583 shares during the period. Blair William & Co. IL increased its stake in PowerSchool by 8.1% during the third quarter. Blair William & Co. IL now owns 3,310,993 shares of the company’s stock worth $75,027,000 after purchasing an additional 248,612 shares during the period. Finally, Morgan Stanley increased its stake in PowerSchool by 332.0% during the third quarter. Morgan Stanley now owns 1,911,471 shares of the company’s stock worth $43,314,000 after purchasing an additional 1,468,997 shares during the period. 65.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWSC has been the topic of a number of recent research reports. TheStreet lowered shares of PowerSchool from a “b-” rating to a “c” rating in a research note on Monday, January 29th. The Goldman Sachs Group upped their target price on shares of PowerSchool from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Piper Sandler restated an “overweight” rating and set a $29.00 target price on shares of PowerSchool in a research note on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Insiders Place Their Bets

In other news, CTO Devendra Singh sold 2,750 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $20.87, for a total value of $57,392.50. Following the completion of the transaction, the chief technology officer now owns 338,769 shares in the company, valued at $7,070,109.03. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CMO Fred Studer sold 6,065 shares of PowerSchool stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $20.30, for a total transaction of $123,119.50. Following the completion of the sale, the chief marketing officer now owns 163,685 shares in the company, valued at approximately $3,322,805.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Devendra Singh sold 2,750 shares of PowerSchool stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $20.87, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 176,535 shares of company stock worth $3,687,100. 0.60% of the stock is owned by corporate insiders.

PowerSchool Trading Down 2.0 %

NYSE:PWSC opened at $19.73 on Wednesday. The stock has a fifty day moving average price of $21.70 and a two-hundred day moving average price of $22.26. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. PowerSchool Holdings, Inc. has a 1 year low of $16.41 and a 1 year high of $25.16.

PowerSchool (NYSE:PWSC) last released its quarterly earnings data on Monday, February 26th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $182.14 million during the quarter, compared to analysts’ expectations 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, equities research analysts forecast that PowerSchool Holdings, Inc. will post 0.61 earnings per share for the current fiscal year.

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.