Wells Fargo & Company MN Boosts Stake in Waystar Holding Corp. (NASDAQ:WAY)

Wells Fargo & Company MN increased its position in Waystar Holding Corp. (NASDAQ:WAY) by 101.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,404 shares of the company’s stock after buying an additional 15,842 shares during the period. Wells Fargo & Company MN’s holdings in Waystar were worth $1,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WAY. Vanguard Group Inc. raised its holdings in Waystar by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock valued at $183,182,000 after buying an additional 1,054,180 shares during the period. Norges Bank purchased a new stake in shares of Waystar in the fourth quarter valued at $119,387,000. American Century Companies Inc. lifted its holdings in shares of Waystar by 0.4% in the 4th quarter. American Century Companies Inc. now owns 1,476,236 shares of the company’s stock worth $54,178,000 after acquiring an additional 6,409 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Waystar by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock worth $37,531,000 after purchasing an additional 96,552 shares during the period. Finally, Geode Capital Management LLC raised its position in Waystar by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,120,296 shares of the company’s stock worth $41,124,000 after purchasing an additional 18,872 shares during the period.

Waystar Trading Down 1.0 %

Shares of WAY opened at $36.64 on Tuesday. Waystar Holding Corp. has a 12 month low of $20.26 and a 12 month high of $48.11. The stock has a fifty day moving average price of $38.02 and a 200-day moving average price of $35.83. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

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

Analysts Set New Price Targets

WAY has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on 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 initiated coverage on Waystar in a research note on Friday, March 14th. They set a “buy” rating and a $45.00 target price on the stock. The Goldman Sachs Group boosted their price target on Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Bank of America boosted their price target on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Barclays lowered their price target on Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.33.

Insider Activity at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $42.15, for a total transaction of $143,310.00. Following the sale, the chief marketing officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $40.00, for a total value of $300,686,720.00. Following the sale, the insider now directly owns 29,692,286 shares in the company, valued at $1,187,691,440. This represents a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,411,461 shares of company stock valued at $528,743,995 in the last ninety days.

About Waystar

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