Prudential Financial Inc. Cuts Stock Position in Waystar Holding Corp. (NASDAQ:WAY)

Prudential Financial Inc. decreased its position in Waystar Holding Corp. (NASDAQ:WAY) by 93.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,528 shares of the company’s stock after selling 85,602 shares during the quarter. Prudential Financial Inc.’s holdings in Waystar were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of WAY. Vanguard Group Inc. grew its position in Waystar by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock worth $183,182,000 after acquiring an additional 1,054,180 shares during the last quarter. Geode Capital Management LLC boosted its position in Waystar by 697.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock valued at $30,724,000 after buying an additional 963,316 shares during the period. Burkehill Global Management LP purchased a new position in shares of Waystar in the fourth quarter valued at about $23,855,000. State Street Corp purchased a new stake in shares of Waystar during the third quarter worth about $16,816,000. Finally, AGF Management Ltd. bought a new stake in shares of Waystar in the fourth quarter worth about $7,778,000.

Waystar Stock Up 2.9 %

Shares of WAY opened at $37.27 on Friday. Waystar Holding Corp. has a 52 week low of $20.26 and a 52 week high of $48.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The business’s 50 day moving average price is $39.51 and its 200-day moving average price is $35.09.

Waystar (NASDAQ:WAY) last released its earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.15 by $0.11. The company had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. On average, equities analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

WAY has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their price objective on Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Barclays upped their price objective on shares of Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Jefferies Financial Group initiated coverage on shares of Waystar in a research note on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price on the stock. Truist Financial began coverage on shares of Waystar in a research note on Friday, March 14th. They issued a “buy” rating and a $45.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $40.75.

Insider Activity at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction on Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the completion of the sale, the chief marketing officer now owns 43,478 shares of the company’s stock, valued at approximately $1,832,597.70. This trade represents a 7.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul G. Moskowitz sold 5,652,689 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $38.60, for a total value of $218,193,795.40. Following the completion of the transaction, the director now owns 22,327,728 shares of the company’s stock, valued at $861,850,300.80. This represents a 20.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,356,171 shares of company stock valued at $526,733,651.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.