Charles Schwab Investment Management Inc. Buys 11,117 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Charles Schwab Investment Management Inc. grew its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 377,710 shares of the company’s stock after purchasing an additional 11,117 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Waystar were worth $13,862,000 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 the stock. Global Retirement Partners LLC bought a new position in shares of Waystar in the fourth quarter valued at approximately $25,000. Smithfield Trust Co purchased a new position in Waystar in the third quarter valued at approximately $68,000. Dakota Wealth Management purchased a new position in Waystar in the fourth quarter valued at approximately $264,000. Stifel Financial Corp purchased a new position in Waystar in the third quarter valued at approximately $204,000. Finally, Entropy Technologies LP purchased a new position in Waystar in the fourth quarter valued at approximately $289,000.

Insider Transactions at Waystar

In related news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the business’s 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 transaction, the insider now owns 29,692,286 shares in the company, valued at $1,187,691,440. The trade was a 20.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were 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 in the company, valued at approximately $1,832,597.70. This represents a 7.25 % 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 worth $526,733,651.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WAY shares. Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research note on Friday, November 22nd. Bank of America upped their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Canaccord Genuity Group upped their price objective on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Barclays upped their price objective on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Truist Financial started coverage on Waystar in a report on Friday, March 14th. They issued a “buy” rating and a $45.00 price target for the company. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Waystar has a consensus rating of “Buy” and an average target price of $40.75.

Waystar Trading Down 1.8 %

NASDAQ:WAY opened at $37.48 on Friday. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week high of $48.11. The stock has a fifty day moving average of $40.11 and a 200 day moving average of $33.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29.

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