Bank of New York Mellon Corp Buys 104,995 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Bank of New York Mellon Corp lifted its position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 43.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 344,045 shares of the company's stock after purchasing an additional 104,995 shares during the period. Bank of New York Mellon Corp owned 0.20% of Waystar worth $12,854,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC purchased a new stake in Waystar during the fourth quarter worth about $48,000. Gen Wealth Partners Inc purchased a new stake in Waystar during the fourth quarter worth about $92,000. Amalgamated Bank increased its holdings in Waystar by 84.1% during the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after buying an additional 1,241 shares during the last quarter. KBC Group NV purchased a new stake in Waystar during the first quarter worth about $109,000. Finally, RiverPark Advisors LLC increased its holdings in Waystar by 25.5% during the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after buying an additional 710 shares during the last quarter.

Insider Activity at Waystar

In related news, CEO Matthew J. Hawkins sold 197,847 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 764,131 shares of the company's stock, valued at approximately $29,441,967.43. The trade was a 20.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider T. Craig Bridge sold 85,000 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the transaction, the insider directly owned 682,843 shares of the company's stock, valued at approximately $25,326,646.87. This represents a 11.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,778,726 shares of company stock valued at $328,889,968 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective for the company. Canaccord Genuity Group decreased their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Barclays reduced their target price on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Truist Financial lifted their target price on shares of Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Twelve equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Waystar presently has an average rating of "Buy" and an average target price of $42.31.

Waystar Price Performance

NASDAQ:WAY traded up $0.02 during mid-day trading on Thursday, hitting $36.98. 2,820,531 shares of the stock traded hands, compared to its average volume of 1,510,875. The business's 50-day moving average price is $38.75 and its 200 day moving average price is $38.90. The company has a market cap of $6.44 billion and a PE ratio of 410.93. Waystar Holding Corp. has a 12-month low of $20.74 and a 12-month high of $48.11. 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 (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $256.44 million during the quarter, compared to analysts' expectations of $248.47 million. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The business's quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

About Waystar

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