It was déjà vu for the Owls with the same outcome as Daniel Johnson scored two penalties to give Preston a 2-1 victory.
Twice Moses Odubajo tangled with Sean Maguire and twice the referee pointed to the spot.
Johnson stepped up to convert on each occasion to give the Lilywhites a win they deserved, although they had to survive a late storm as Steven Fletcher halved the deficit.
Prior to that, Wednesday struggled to make an impact in the final third after Kieran Lee scampered in on goal inside two minutes and only a last-ditch Ben Davies intervention stopped the recalled midfield man.
But Preston soon found their stride and began to boss the ball in key areas, albeit without causing problems for the Owls rearguard.
Then the pendulum briefly swung back the way of Wednesday and Fletcher was thwarted by keeper Declan Rudd after smart link-up play between Barry Bannan and Kadeem Harris.
Following a brief lull in proceedings, Preston were handed a golden opportunity from 12 yards that they duly took on 32 minutes.
Odubajo clashed with Maguire in the box and despite Keiren Westwood getting a strong touch to the penalty, Johnson’s low effort was enough to open the scoring.
The home side dominated until the break, after which Fernando Forestieri was introduced but Preston continued where they left off.
Tom Barkhuizen burst inside on the angle only to be met with the advancing figure of Westwood, who diverted the danger.
But the Owls custodian could do nothing to prevent a second strike on 65 minutes - again from the spot.
And again it was the same two players at the heart of the action as Odubajo tripped the pacey Maguire. Johnson went the same way, Westwood the other, and prospects of a Wednesday comeback took a hit.
Johnson then brushed the outside of the woodwork with a fierce free kick before Maguire also went close.
With 12 minutes to go, though, the Owls at last made inroads. Adam Reach sent a delicious cross to the back post, where Fletcher climbed to head past Rudd and Wednesday were back in business.
That set up the inevitable grandstand finish in which Atdhe Nuhiu almost sent the 5,000-strong away contingent into raptures with a mazy run but Rudd saved the big man's shot and with that chance went Wednesday’s hopes of an unlikely point.
Wednesday: Westwood, Odubajo (Reach 66), Lees, Borner, Fox, Harris, Hutchinson, Lee (Nuhiu 73), Bannan, Murphy (Forestieri 46), Fletcher