BNP Paribas Financial Markets Acquires 8,231 Shares of Waystar Holding Corp. (NASDAQ:WAY)

BNP Paribas Financial Markets increased its position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,301 shares of the company's stock after buying an additional 8,231 shares during the period. BNP Paribas Financial Markets' holdings in Waystar were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WAY. Norges Bank bought a new stake in Waystar in the fourth quarter valued at approximately $119,387,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Waystar during the 4th quarter worth approximately $56,804,000. Vanguard Group Inc. raised its stake in Waystar by 26.8% in the 4th 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 during the period. Lord Abbett & CO. LLC bought a new stake in Waystar in the 4th quarter valued at $27,987,000. Finally, Burkehill Global Management LP acquired a new stake in Waystar during the 4th quarter valued at $23,855,000.

Waystar Stock Performance

Shares of NASDAQ:WAY traded down $1.10 on Thursday, reaching $38.20. 1,492,739 shares of the company's stock were exchanged, compared to its average volume of 1,440,004. Waystar Holding Corp. has a twelve month low of $20.26 and a twelve month high of $48.11. The company has a fifty day moving average of $37.84 and a 200-day moving average of $37.10. The company has a market capitalization of $6.61 billion and a price-to-earnings ratio of 424.44. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting 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. The company's quarterly revenue was up 14.1% compared to the same quarter last year. On average, research analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Activity

In other Waystar news, Director Paul G. Moskowitz sold 451,837 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $37.39, for a total value of $16,894,185.43. Following the transaction, the director now directly owns 18,055,049 shares of the company's stock, valued at $675,078,282.11. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the sale, the insider now directly owns 29,692,286 shares of the company's stock, valued at approximately $1,187,691,440. This trade represents a 20.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,662,302 shares of company stock worth $837,346,766. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Jefferies Financial Group began coverage on shares of Waystar in a report on Tuesday, February 11th. They issued a "buy" rating and a $51.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Truist Financial set a $50.00 price target on shares of Waystar and gave the company a "buy" rating in a research note on Wednesday, May 7th. Barclays lowered their price target on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Canaccord Genuity Group reduced their price objective on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Waystar currently has a consensus rating of "Buy" and a consensus target price of $40.50.

Waystar Company Profile

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