Bank of New York Mellon Corp Has $12.85 Million Stake in Waystar Holding Corp. (NASDAQ:WAY)

Bank of New York Mellon Corp raised its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 43.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 344,045 shares of the company’s stock after purchasing an additional 104,995 shares during the quarter. Bank of New York Mellon Corp owned 0.20% of Waystar worth $12,854,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WAY. RiverPark Advisors LLC increased its stake in Waystar by 25.5% during the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock valued at $128,000 after acquiring an additional 710 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Waystar by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company’s stock worth $901,000 after purchasing an additional 960 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Waystar by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company’s stock worth $1,985,000 after purchasing an additional 964 shares in the last quarter. Amalgamated Bank increased its position in shares of Waystar by 84.1% during the first quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock valued at $101,000 after purchasing an additional 1,241 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Waystar in the fourth quarter valued at $48,000.

Insider Transactions at Waystar

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $39.16, for a total transaction of $379,930.32. Following the completion of the sale, the insider directly owned 490,870 shares of the company’s stock, valued at approximately $19,222,469.20. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Hawkins sold 197,847 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $38.53, for a total transaction of $7,623,044.91. Following the transaction, the chief executive officer owned 764,131 shares in the company, valued at approximately $29,441,967.43. The trade was a 20.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,684,024 shares of company stock worth $325,377,374 in the last quarter. 4.10% of the stock is owned by corporate insiders.

Waystar Stock Performance

Waystar stock opened at $36.70 on Monday. The stock has a 50-day simple moving average of $38.96 and a 200 day simple moving average of $38.93. The stock has a market capitalization of $6.39 billion and a price-to-earnings ratio of 407.82. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.39. Waystar Holding Corp. has a 12-month low of $20.74 and a 12-month high of $48.11.

Waystar (NASDAQ:WAY) last announced its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The company had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. Waystar’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WAY has been the topic of several analyst reports. Barclays lowered their price target on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Citigroup started coverage on shares of Waystar in a research note on Wednesday, June 25th. They issued a “buy” rating and a $45.00 target price on the stock. Mizuho initiated coverage on shares of Waystar in a research note on Monday, June 30th. They set an “outperform” rating and a $48.00 price target for the company. TD Cowen raised Waystar to a “strong-buy” rating in a report on Thursday, June 5th. Finally, Canaccord Genuity Group dropped their target price on Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Twelve investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Waystar currently has a consensus rating of “Buy” and a consensus target price of $42.31.

Waystar Profile

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