State Street Corp Invests $16.82 Million in Waystar Holding Corp. (NASDAQ:WAY)

State Street Corp purchased a new position in Waystar Holding Corp. (NASDAQ:WAY) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 602,929 shares of the company’s stock, valued at approximately $16,816,000.

Several other institutional investors have also modified their holdings of WAY. Canada Pension Plan Investment Board bought a new position in Waystar during the 2nd quarter valued at $800,003,000. Deerfield Management Company L.P. Series C bought a new position in shares of Waystar during the second quarter worth about $106,468,000. TPG GP A LLC bought a new position in shares of Waystar during the second quarter worth about $85,910,000. ArrowMark Colorado Holdings LLC increased its holdings in Waystar by 36.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock valued at $94,890,000 after buying an additional 909,715 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in Waystar during the second quarter valued at approximately $28,357,000.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WAY. Evercore ISI lifted their target price on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Bank of America boosted their target price on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Canaccord Genuity Group raised their price target on shares of Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $32.90.

Insider Activity at Waystar

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the transaction, the chief financial officer now owns 173,642 shares in the company, valued at approximately $5,884,727.38. The trade was a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Waystar Price Performance

Shares of WAY opened at $37.76 on Wednesday. The company’s fifty day simple moving average is $30.73. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $37.82. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $240.10 million during the quarter, compared to analyst estimates of $223.82 million. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. Research analysts anticipate that Waystar Holding Corp. will post 0.03 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.