Waystar Holding Corp. (NASDAQ:WAY) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 760.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 161,687 shares of the company's stock after purchasing an additional 142,888 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.09% of Waystar worth $5,934,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WAY. Charles Schwab Investment Management Inc. purchased a new position in Waystar in the third quarter valued at about $10,224,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Waystar in the third quarter valued at about $526,000. FMR LLC purchased a new stake in shares of Waystar during the 3rd quarter valued at about $1,421,000. BNP Paribas Financial Markets acquired a new position in Waystar during the 3rd quarter worth approximately $1,006,000. Finally, Point72 Asset Management L.P. boosted its holdings in Waystar by 154.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 96,053 shares of the company's stock worth $2,679,000 after acquiring an additional 58,253 shares during the period.

Waystar Stock Performance

Shares of NASDAQ WAY traded up $1.04 during trading on Friday, reaching $37.27. The stock had a trading volume of 1,275,625 shares, compared to its average volume of 1,388,777. The firm's 50 day moving average price is $39.51 and its two-hundred day moving average price is $35.09. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $48.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29.

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Waystar (NASDAQ:WAY - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $232.29 million. On average, analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WAY. Bank of America lifted their price objective on shares of Waystar from $36.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Jefferies Financial Group started coverage on shares of Waystar in a research note on Tuesday, February 11th. They set a "buy" rating and a $51.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Barclays lifted their target price on Waystar from $42.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Finally, Canaccord Genuity Group increased their price target on Waystar from $42.00 to $50.00 and gave the company a "buy" rating in a report on Monday, February 24th. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $40.75.

Insider Buying and Selling

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar 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 sale, the chief marketing officer now directly owns 43,478 shares in the company, valued at $1,832,597.70. This trade represents a 7.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the company'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 completion of the transaction, the insider now owns 29,692,286 shares of the company's stock, valued at approximately $1,187,691,440. This trade represents a 20.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,356,171 shares of company stock worth $526,733,651 over the last quarter.

Waystar Company Profile

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