Bank of New York Mellon Corp Raises Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Bank of New York Mellon Corp boosted its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 103.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,050 shares of the company's stock after purchasing 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.

A number of other large investors have also bought and sold shares of the stock. Global Retirement Partners LLC bought a new stake in shares of Waystar in the 4th quarter worth approximately $25,000. Cerity Partners LLC grew its position in shares of Waystar by 1.5% in the 3rd quarter. Cerity Partners LLC now owns 46,699 shares of the company's stock worth $1,302,000 after buying an additional 699 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Waystar in the 3rd quarter worth approximately $41,000. Smithfield Trust Co bought a new stake in shares of Waystar in the 3rd quarter worth approximately $68,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Waystar in the 3rd quarter worth approximately $78,000.

Waystar Price Performance

NASDAQ WAY traded up $0.37 on Tuesday, reaching $36.92. 1,316,243 shares of the stock traded hands, compared to its average volume of 1,310,222. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $40.11 and a 200-day moving average price of $33.69. Waystar Holding Corp. has a 12 month low of $20.26 and a 12 month high of $48.11.

Remove Ads

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, beating analysts' consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million for the quarter, compared to the consensus estimate of $232.29 million. As a group, equities research analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WAY shares. Truist Financial started coverage on Waystar in a research report on Friday. They issued a "buy" rating and a $45.00 price objective on the stock. Bank of America lifted their price target on Waystar from $36.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, January 6th. 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. Canaccord Genuity Group lifted 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. Finally, The Goldman Sachs Group lifted 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. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $40.75.

Insider Buying and Selling at Waystar

In related news, 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 value 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 represents a 20.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the sale, the chief marketing officer now owns 43,478 shares of the company's stock, valued at approximately $1,832,597.70. This trade represents a 7.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,356,171 shares of company stock valued at $526,733,651 in the last ninety days.

Waystar Profile

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