Northern Trust Corp Acquires 17,398 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Northern Trust Corp grew its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 376,005 shares of the company's stock after acquiring an additional 17,398 shares during the quarter. Northern Trust Corp owned about 0.22% of Waystar worth $13,799,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WAY. Barclays PLC lifted its holdings in shares of Waystar by 701.7% during the third quarter. Barclays PLC now owns 64,934 shares of the company's stock worth $1,811,000 after purchasing an additional 56,834 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new position in Waystar in the fourth quarter worth $1,905,000. Perpetual Ltd purchased a new position in Waystar in the fourth quarter worth $558,000. Dakota Wealth Management purchased a new position in Waystar in the fourth quarter worth $264,000. Finally, Entropy Technologies LP purchased a new position in Waystar in the fourth quarter worth $289,000.

Analyst Ratings Changes

WAY has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Waystar in a research report on Tuesday, February 11th. They issued a "buy" rating and a $51.00 price objective for the company. Truist Financial set a $50.00 price objective on Waystar and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Canaccord Genuity Group dropped their price target on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Barclays dropped their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group raised their price target on Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $40.50.

Waystar Trading Down 0.7%

WAY traded down $0.27 during midday trading on Wednesday, hitting $39.38. The company's stock had a trading volume of 52,414 shares, compared to its average volume of 1,432,919. The firm has a market cap of $6.81 billion and a P/E ratio of 436.28. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week high of $48.11. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $37.78 and a two-hundred day moving average price of $37.09.

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

Insider Activity

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the sale, the chief marketing officer now owns 43,478 shares of the company's stock, valued at $1,832,597.70. This trade represents a 7.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the business's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $36.36, for a total value of $313,532.28. Following the completion of the sale, the chief technology officer now directly owns 438,044 shares in the company, valued at approximately $15,927,279.84. This represents a 1.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,662,302 shares of company stock worth $837,346,766 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Waystar Company Profile

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