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

Bank of New York Mellon Corp lifted its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 103.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,050 shares of the company's stock after buying an additional 121,702 shares during the period. Bank of New York Mellon Corp owned about 0.14% of Waystar worth $8,773,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Waystar by 697.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company's stock valued at $30,724,000 after buying an additional 963,316 shares in the last quarter. ArrowMark Colorado Holdings LLC increased 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 acquiring an additional 909,715 shares during the period. State Street Corp acquired a new position in Waystar in the third quarter worth about $16,816,000. Charles Schwab Investment Management Inc. acquired a new position in Waystar in the third quarter worth about $10,224,000. Finally, Cinctive Capital Management LP lifted its stake in Waystar by 31.6% during the third quarter. Cinctive Capital Management LP now owns 421,549 shares of the company's stock worth $11,757,000 after purchasing an additional 101,124 shares during the period.

Insider Activity

In related 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 sale, the director now owns 22,327,728 shares in the company, valued at approximately $861,850,300.80. This represents a 20.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 13,356,171 shares of company stock valued at $526,733,651.

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Analysts Set New Price Targets

WAY has been the topic of several analyst reports. 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. The Goldman Sachs Group increased their price objective on Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Bank of America lifted their price objective on Waystar from $36.00 to $43.00 and gave the company a "buy" rating in a report on Monday, January 6th. Jefferies Financial Group started coverage on shares of Waystar in a report on Tuesday, February 11th. They issued a "buy" rating and a $51.00 target price on the stock. Finally, Raymond James raised shares of Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target for the company in a report on Friday, November 22nd. 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, the company presently has a consensus rating of "Buy" and a consensus price target of $40.75.

Waystar Stock Performance

NASDAQ:WAY traded up $0.08 during trading hours on Monday, hitting $36.55. 1,464,655 shares of the stock were exchanged, compared to its average volume of 1,302,621. The company's 50 day moving average is $40.11 and its two-hundred day moving average is $33.69. Waystar Holding Corp. has a twelve month low of $20.26 and a twelve month high of $48.11. 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 - Get Free Report) 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. Analysts predict that Waystar Holding Corp. will post 0.39 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.