Verition Fund Management LLC Takes Position in PowerSchool Holdings, Inc. (NYSE:PWSC)

Verition Fund Management LLC acquired a new stake in PowerSchool Holdings, Inc. (NYSE:PWSC – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,139 shares of the company’s stock, valued at approximately $269,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of PowerSchool by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,629,874 shares of the company’s stock valued at $59,929,000 after acquiring an additional 20,583 shares during the period. Wellington Management Group LLP lifted its position in PowerSchool by 21.0% during the first quarter. Wellington Management Group LLP now owns 1,566,827 shares of the company’s stock valued at $25,868,000 after purchasing an additional 271,642 shares during the last quarter. Nuveen Asset Management LLC lifted its position in PowerSchool by 174.0% during the third quarter. Nuveen Asset Management LLC now owns 1,335,947 shares of the company’s stock valued at $22,297,000 after purchasing an additional 848,383 shares during the last quarter. Blair William & Co. IL lifted its position in PowerSchool by 866.7% during the third quarter. Blair William & Co. IL now owns 1,189,698 shares of the company’s stock valued at $19,856,000 after purchasing an additional 1,066,626 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its position in PowerSchool by 49.8% during the second quarter. NewEdge Wealth LLC now owns 906,760 shares of the company’s stock valued at $10,926,000 after purchasing an additional 301,439 shares during the last quarter. 61.21% of the stock is currently owned by institutional investors.

Insider Activity at PowerSchool

In related news, CEO Hardeep Gulati sold 63,727 shares of PowerSchool stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $20.16, for a total value of $1,284,736.32. Following the sale, the chief executive officer now owns 2,344,717 shares in the company, valued at $47,269,494.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Corp Onex sold 4,295,739 shares of PowerSchool stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $20.16, for a total value of $86,602,098.24. Following the sale, the director now owns 71,118,123 shares in the company, valued at $1,433,741,359.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hardeep Gulati sold 63,727 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $20.16, for a total transaction of $1,284,736.32. Following the sale, the chief executive officer now owns 2,344,717 shares in the company, valued at approximately $47,269,494.72. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PWSC. Cantor Fitzgerald lifted their target price on shares of PowerSchool from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. Bank of America raised shares of PowerSchool from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $32.00 in a research note on Wednesday, January 4th. Royal Bank of Canada lifted their price target on shares of PowerSchool from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Piper Sandler lifted their price target on shares of PowerSchool from $22.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. Finally, UBS Group lifted their target price on shares of PowerSchool from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.50.

PowerSchool Stock Performance

NYSE:PWSC opened at $19.39 on Friday. The stock has a market cap of $3.10 billion, a P/E ratio of -129.27 and a beta of 1.02. The firm’s fifty day simple moving average is $22.93 and its 200 day simple moving average is $20.35. PowerSchool Holdings, Inc. has a twelve month low of $10.60 and a twelve month high of $26.05. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.42.

About PowerSchool

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PowerSchool Holdings, Inc provides cloud-based software to the K-12 education market. Its solution is embedded in school workflows and is used on daily basis by educators, students, administrators, and parents in schools and districts representing approximately 45 million students worldwide. Its cloud-based technology platform helps schools and districts manage state reporting and related compliance, special education, finance, human resource, talent, registration, attendance, funding, learning, instruction, grading, college and career readiness, assessments, and analytics.