Harbor Capital Advisors Inc. Takes $378,000 Position in Waystar Holding Corp. (NASDAQ:WAY)

Harbor Capital Advisors Inc. purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,107 shares of the company's stock, valued at approximately $378,000.

A number of other hedge funds also recently bought and sold shares of the stock. Legato Capital Management LLC purchased a new position in shares of Waystar in the 4th quarter valued at $420,000. Global Retirement Partners LLC acquired a new stake in shares of Waystar during the fourth quarter worth about $25,000. Bank of New York Mellon Corp lifted its holdings in shares of Waystar by 103.7% in the 4th quarter. Bank of New York Mellon Corp now owns 239,050 shares of the company's stock valued at $8,773,000 after purchasing an additional 121,702 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Waystar by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company's stock valued at $13,862,000 after purchasing an additional 11,117 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in Waystar during the 4th quarter worth approximately $2,417,000.

Waystar Price Performance

WAY traded up $0.19 on Monday, hitting $39.12. 206,981 shares of the company were exchanged, compared to its average volume of 1,356,621. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The firm has a market capitalization of $6.77 billion and a P/E ratio of 434.67. The business's fifty day moving average is $38.61 and its 200 day moving average is $38.25.

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

Analysts Set New Price Targets

WAY has been the subject of a number of research reports. Truist Financial set a $50.00 price objective on Waystar and gave the company a "buy" rating in a research note on Wednesday, May 7th. Canaccord Genuity Group lowered their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group upped their target price on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Barclays lowered their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, TD Cowen upgraded Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Twelve analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Waystar currently has an average rating of "Buy" and an average price target of $40.50.

Insiders Place Their Bets

In related news, CEO Matthew J. Hawkins sold 46,667 shares of the 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 sale, the chief executive officer now owns 500,000 shares of the company's stock, valued at $18,180,000. This trade represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $40.58, for a total transaction of $349,921.34. Following the completion of the transaction, the chief technology officer now owns 438,044 shares in the company, valued at approximately $17,775,825.52. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,664,620 shares of company stock worth $324,520,903. Insiders own 4.10% of the company's stock.

Waystar Company Profile

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