Comerica Bank Acquires 41,295 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Comerica Bank increased its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 3,523.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,467 shares of the company's stock after buying an additional 41,295 shares during the quarter. Comerica Bank's holdings in Waystar were worth $1,559,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Waystar by 26.8% in 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 last quarter. Norges Bank bought a new stake in shares of Waystar during the 4th quarter valued at about $119,387,000. Fuller & Thaler Asset Management Inc. bought a new stake in Waystar in the 4th quarter worth approximately $56,804,000. American Century Companies Inc. lifted its position in 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 buying an additional 6,409 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake 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 Price Performance

Shares of NASDAQ:WAY traded down $1.19 during trading on Tuesday, reaching $39.11. The stock had a trading volume of 1,823,418 shares, compared to its average volume of 1,395,270. 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 $37.50 and its 200 day moving average price is $36.68. Waystar Holding Corp. has a 52 week low of $20.26 and a 52 week high of $48.11. The stock has a market capitalization of $6.77 billion and a PE ratio of 434.56.

Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The firm had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. The company's revenue was up 14.1% on a year-over-year basis. As a group, equities analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Waystar

In other news, CTO Christopher L. Schremser sold 8,623 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $36.36, for a total transaction of $313,532.28. Following the sale, the chief technology officer now owns 438,044 shares in the company, valued at approximately $15,927,279.84. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Hawkins sold 46,667 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $36.36, for a total transaction of $1,696,812.12. Following the completion of the sale, the chief executive officer now directly owns 500,000 shares in the company, valued at approximately $18,180,000. This trade represents a 8.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,420,084 shares of company stock worth $529,090,381 over the last three months.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WAY shares. Barclays dropped their target price on Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Truist Financial set a $50.00 price target on Waystar and gave the company a "buy" rating in a report on Wednesday, May 7th. The Goldman Sachs Group raised their price objective on Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Jefferies Financial Group assumed coverage on Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price for the company. Finally, Canaccord Genuity Group cut their price target on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $40.50.

Waystar Company Profile

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