Waystar Holding Corp. (NASDAQ:WAY) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,045 shares of the company's stock after acquiring an additional 104,995 shares during the period. Bank of New York Mellon Corp owned 0.20% of Waystar worth $12,854,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Waystar in the 4th quarter worth approximately $1,504,000. Swiss National Bank purchased a new position in Waystar in the 4th quarter worth approximately $3,009,000. Quantbot Technologies LP purchased a new stake in shares of Waystar in the 4th quarter valued at $1,622,000. American Century Companies Inc. boosted its stake 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 valued at $54,178,000 after purchasing an additional 6,409 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Waystar in the 4th quarter valued at $283,000.

Insider Activity at Waystar

In other news, CTO Christopher L. Schremser sold 8,623 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $37.63, for a total transaction of $324,483.49. Following the completion of the sale, the chief technology officer directly owned 438,044 shares of the company's stock, valued at approximately $16,483,595.72. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $37.10, for a total transaction of $359,944.20. Following the completion of the sale, the insider directly owned 490,870 shares of the company's stock, valued at approximately $18,211,277. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,778,726 shares of company stock valued at $328,889,968 over the last ninety days. Company insiders own 4.10% of the company's stock.

Waystar Trading Up 2.0%

WAY stock traded up $0.75 during mid-day trading on Thursday, reaching $37.71. 820,547 shares of the stock traded hands, compared to its average volume of 1,847,189. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.12 and a current ratio of 3.12. Waystar Holding Corp. has a one year low of $20.74 and a one year high of $48.11. The stock has a market capitalization of $6.57 billion and a PE ratio of 419.12. The business has a 50-day moving average price of $38.79 and a two-hundred day moving average price of $38.90.

Waystar (NASDAQ:WAY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.32. The firm had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WAY shares. Truist Financial upped their price objective on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Barclays decreased their price objective on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Mizuho assumed coverage on shares of Waystar in a research note on Monday, June 30th. They issued an "outperform" rating and a $48.00 price target for the company. Finally, Canaccord Genuity Group lowered their price target on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Twelve investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average 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.