Wells Fargo & Company MN Buys 15,842 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Wells Fargo & Company MN lifted its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 101.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,404 shares of the company's stock after buying an additional 15,842 shares during the period. Wells Fargo & Company MN's holdings in Waystar were worth $1,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in shares of Waystar by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company's stock valued at $37,531,000 after purchasing an additional 96,552 shares in the last quarter. Barclays PLC raised its position 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 acquiring an additional 56,834 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Waystar during the third quarter valued at $539,000. Raymond James Financial Inc. acquired a new position in shares of Waystar during the fourth quarter valued at $1,504,000. Finally, Perpetual Ltd bought a new position in Waystar in the fourth quarter valued at about $558,000.

Insider Activity at Waystar

In related news, CEO Matthew J. Hawkins sold 46,667 shares of the company's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $36.36, for a total transaction of $1,696,812.12. Following the completion of the sale, the chief executive officer now directly owns 500,000 shares in the company, valued at $18,180,000. This represents a 8.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction dated 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 owns 29,692,286 shares of the company's stock, valued at approximately $1,187,691,440. This represents a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,411,461 shares of company stock valued at $528,743,995.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WAY. Jefferies Financial Group began coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price for the company. Barclays dropped their price objective on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Truist Financial initiated coverage on shares of Waystar in a report on Friday, March 14th. They issued a "buy" rating and a $45.00 price target for the company. Bank of America raised their price objective on Waystar from $36.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Canaccord Genuity Group lowered their price target on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waystar currently has an average rating of "Buy" and an average price target of $40.08.

Waystar Stock Performance

Shares of Waystar stock traded up $1.35 during trading hours on Friday, hitting $40.81. 1,533,702 shares of the company's stock traded hands, compared to its average volume of 1,949,585. The company has a fifty day simple moving average of $37.79 and a 200-day simple moving average of $35.93. 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 Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last posted its 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 company had revenue of $256.44 million for the quarter, compared to analysts' expectations of $248.47 million. The firm's revenue was up 14.1% on a year-over-year basis. As a group, analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Waystar Company Profile

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