D. E. Shaw & Co. Inc. bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,945 shares of the company's stock, valued at approximately $1,319,000.
Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Waystar during the fourth quarter worth $119,387,000. Fuller & Thaler Asset Management Inc. purchased a new position in Waystar in the 4th quarter valued at about $56,804,000. Vanguard Group Inc. grew its stake in shares of Waystar by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company's stock valued at $183,182,000 after acquiring an additional 1,054,180 shares in the last quarter. Bank of America Corp DE increased its position in shares of Waystar by 263.2% during the fourth quarter. Bank of America Corp DE now owns 1,104,189 shares of the company's stock worth $40,524,000 after acquiring an additional 800,183 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Waystar in the fourth quarter worth about $27,987,000.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on WAY shares. Barclays cut their target price on Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Truist Financial set a $50.00 price target on shares of Waystar and gave the company a "buy" rating in a report on Wednesday, May 7th. Jefferies Financial Group assumed coverage on shares of Waystar in a report on Tuesday, February 11th. They set a "buy" rating and a $51.00 price objective for the company. Canaccord Genuity Group cut their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group increased their price target on shares of Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Waystar has a consensus rating of "Buy" and an average price target of $40.50.
Check Out Our Latest Analysis on Waystar
Waystar Stock Performance
Shares of WAY stock opened at $38.20 on Friday. The company has a market cap of $6.61 billion and a P/E ratio of 424.44. The business has a 50 day moving average of $37.87 and a two-hundred day moving average of $37.17. Waystar Holding Corp. has a 52 week low of $20.26 and a 52 week high of $48.11. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40.
Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. Waystar's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.
Insider Transactions at Waystar
In related news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $39.16, for a total value of $379,930.32. Following the completion of the transaction, the insider now directly owns 490,870 shares of the company's stock, valued at $19,222,469.20. This represents a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $40.00, for a total value of $300,686,720.00. Following the transaction, the insider now owns 29,692,286 shares of the company's stock, valued at $1,187,691,440. This trade represents a 20.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,668,604 shares of company stock worth $837,583,386. Insiders own 4.10% of the company's stock.
About Waystar
(
Free Report)
Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Waystar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Waystar wasn't on the list.
While Waystar currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
