Bank of New York Mellon Corp Purchases 121,702 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Bank of New York Mellon Corp lifted its position in Waystar Holding Corp. (NASDAQ:WAY) by 103.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 239,050 shares of the company’s stock after acquiring an additional 121,702 shares during the period. Bank of New York Mellon Corp’s holdings in Waystar were worth $8,773,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAY. Geode Capital Management LLC raised its stake in Waystar by 697.5% in the third quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock valued at $30,724,000 after purchasing an additional 963,316 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its stake 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 purchasing an additional 909,715 shares in the last quarter. State Street Corp acquired a new position in Waystar in the third quarter valued at about $16,816,000. Charles Schwab Investment Management Inc. acquired a new position in Waystar in the third quarter valued at about $10,224,000. Finally, Cinctive Capital Management LP raised its stake in Waystar by 31.6% in the third quarter. Cinctive Capital Management LP now owns 421,549 shares of the company’s stock valued at $11,757,000 after purchasing an additional 101,124 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Paul G. Moskowitz sold 5,652,689 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $38.60, for a total value of $218,193,795.40. Following the completion of the transaction, the director now owns 22,327,728 shares of the company’s stock, valued at $861,850,300.80. This represents a 20.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider T. Craig Bridge sold 182,914 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $42.15, for a total value of $7,709,825.10. Following the completion of the transaction, the insider now directly owns 519,658 shares of the company’s stock, valued at approximately $21,903,584.70. This trade represents a 26.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,356,171 shares of company stock valued at $526,733,651.

Waystar Stock Up 3.4 %

Shares of Waystar stock opened at $36.47 on Friday. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $48.11. The business’s 50 day simple moving average is $40.13 and its two-hundred day simple moving average is $33.52. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. Analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WAY shares. Bank of America boosted their price target on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Friday, November 22nd. Canaccord Genuity Group boosted their price target on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Truist Financial started coverage on Waystar in a research note on Friday. They set a “buy” rating and a $45.00 target price for the company. Finally, Barclays boosted their target price on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $40.75.

Waystar Company Profile

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