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Steven Sheldon

Partner and Senior Equity Research Analyst at William Blair & Company, L.L.C.

Stephen Sheldon is a Partner and Senior Equity Research Analyst at William Blair & Company, L.L.C., specializing in vertical technology with a sector focus on real estate, education, and restaurant/hospitality. He covers a broad range of companies including Real Brokerage Inc., Ellie Mae, Instructure, Pluralsight, Realpage, Chegg, Latch, Logistic Properties of the Americas, and Black Knight, and maintains a strong performance record with a 65% success rate and an average return of 8.5% per rating, according to TipRanks. Sheldon joined William Blair in September 2011 after earning a B.S. in accounting and business administration from the University of Kansas and a master’s in professional accounting from the University of Texas, and was recognized as an Institutional Investor Rising Star in 2018. He holds both CFA and CPA designations, underscoring his expertise and credentials in equity research and analysis.

Steven Sheldon's questions to McGraw Hill (MH) leadership

Question · Q2 2026

Steven Sheldon inquired about McGraw Hill's incremental spending plans, asking if priorities have shifted and where investment is being accelerated across product development and sales capacity.

Answer

Bob Sallmann, EVP and CFO, stated that the overall investment level remains consistent at 8-9% of revenue. However, efficiencies in product development allow for accelerated investment in new AI tools, leading to a faster pace of new product releases, such as the four recently launched AI-powered solutions. He reiterated that this innovation is expected to contribute to continued margin expansion.

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