Ameriprise Financial Inc. Acquires 63,326 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Ameriprise Financial Inc. lifted its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 76.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 146,375 shares of the company's stock after purchasing an additional 63,326 shares during the quarter. Ameriprise Financial Inc. owned about 0.09% of Waystar worth $5,372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Global Retirement Partners LLC acquired a new position in Waystar during the 4th quarter worth approximately $25,000. RiverPark Advisors LLC boosted its position in Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after acquiring an additional 710 shares during the last quarter. Russell Investments Group Ltd. boosted its position in 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 acquiring an additional 964 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in Waystar during the 4th quarter worth approximately $48,000. Finally, MetLife Investment Management LLC boosted its position in Waystar by 6.8% during the 4th quarter. MetLife Investment Management LLC now owns 26,493 shares of the company's stock worth $972,000 after acquiring an additional 1,678 shares during the last quarter.

Analyst Ratings Changes

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

Waystar Stock Down 1.9%

Shares of NASDAQ WAY traded down $0.74 during midday trading on Wednesday, hitting $38.36. 416,774 shares of the stock traded hands, compared to its average volume of 1,437,641. The company has a market cap of $6.64 billion and a PE ratio of 426.96. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $48.11. The business has a 50 day moving average price of $37.95 and a two-hundred day moving average price of $37.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $256.44 million during the quarter, compared to analysts' expectations of $248.47 million. Waystar's quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Activity

In related news, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 500,000 shares of the company's stock, valued at approximately $18,180,000. This represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $39.16, for a total value of $379,930.32. Following the sale, the insider now directly owns 490,870 shares in the company, valued at $19,222,469.20. This trade represents a 1.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,655,997 shares of company stock valued at $324,170,981 in the last 90 days. Insiders own 4.10% of the company's stock.

About Waystar

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