PNC Financial Services Group Inc. Has $528,000 Stake in Waystar Holding Corp. (NASDAQ:WAY)

PNC Financial Services Group Inc. lifted its position in Waystar Holding Corp. (NASDAQ:WAY) by 40.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,383 shares of the company’s stock after purchasing an additional 4,165 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Waystar were worth $528,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WAY. Global Retirement Partners LLC acquired a new position in shares of Waystar in the fourth quarter valued at $25,000. Smithfield Trust Co acquired a new position in shares of Waystar in the third quarter valued at $68,000. Stifel Financial Corp acquired a new position in shares of Waystar in the third quarter valued at $204,000. Y Intercept Hong Kong Ltd bought a new stake in Waystar in the third quarter valued at $222,000. Finally, Dakota Wealth Management bought a new stake in Waystar in the fourth quarter valued at $264,000.

Analyst Ratings Changes

WAY has been the topic of a number of analyst reports. The Goldman Sachs Group upped 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. Barclays upped their price target on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. 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 target on the stock. Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group upped their price target on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waystar has an average rating of “Buy” and an average price target of $40.75.

Waystar Stock Performance

Waystar stock opened at $37.47 on Thursday. The business’s 50-day simple moving average is $40.10 and its 200 day simple moving average is $33.78. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month 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.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. On average, equities analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the transaction, the chief marketing officer now owns 43,478 shares of the company’s stock, valued at approximately $1,832,597.70. This represents a 7.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul G. Moskowitz sold 5,652,689 shares of the stock in a transaction dated Monday, February 24th. The shares were 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 directly owns 22,327,728 shares in the company, valued at $861,850,300.80. The trade was a 20.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,356,171 shares of company stock valued at $526,733,651.

About Waystar

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