Waystar Holding Corp. (NASDAQ:WAY) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 697.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,101,424 shares of the company's stock after acquiring an additional 963,316 shares during the quarter. Geode Capital Management LLC owned 0.64% of Waystar worth $30,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp increased its position in Waystar by 116.6% during the third quarter. M&T Bank Corp now owns 63,746 shares of the company's stock valued at $1,778,000 after acquiring an additional 34,316 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in Waystar during the 2nd quarter valued at $12,900,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Waystar during the 2nd quarter valued at $27,950,000. Sculptor Capital LP bought a new position in Waystar in the 2nd quarter valued at $791,000. Finally, Point72 Asset Management L.P. increased its stake in Waystar by 154.1% in the third quarter. Point72 Asset Management L.P. now owns 96,053 shares of the company's stock worth $2,679,000 after purchasing an additional 58,253 shares during the period.

Insiders Place Their Bets

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the completion of the sale, the chief financial officer now owns 173,642 shares of the company's stock, valued at $5,884,727.38. The trade was a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WAY shares. Canaccord Genuity Group lifted their price target on shares of Waystar from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their target price on Waystar from $34.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Evercore ISI increased their price target on Waystar from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Raymond James upgraded Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 price objective for the company in a report on Friday, November 22nd. Finally, Royal Bank of Canada increased their target price on shares of Waystar from $31.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Ten 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.com, the company has a consensus rating of "Buy" and an average price target of $32.90.

Waystar Stock Down 0.7 %

Shares of WAY stock traded down $0.25 during trading hours on Friday, hitting $37.92. The company's stock had a trading volume of 1,140,453 shares, compared to its average volume of 964,832. The stock has a 50 day simple moving average of $31.54. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $38.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $240.10 million for the quarter, compared to analyst estimates of $223.82 million. The firm's revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities research analysts forecast that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Waystar Profile

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