Jennison Associates LLC Acquires 46,264 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Jennison Associates LLC increased its position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 4.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,129,164 shares of the company's stock after buying an additional 46,264 shares during the period. Jennison Associates LLC owned 0.68% of Waystar worth $31,492,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WAY. Amalgamated Bank bought a new stake in Waystar during the third quarter worth $41,000. RiverPark Advisors LLC bought a new stake in shares of Waystar in the third quarter valued at $78,000. Cubist Systematic Strategies LLC bought a new position in shares of Waystar during the 2nd quarter worth $145,000. Scientech Research LLC bought a new stake in Waystar in the 2nd quarter valued at about $289,000. Finally, Federated Hermes Inc. bought a new position in Waystar during the second quarter worth about $430,000.

Waystar Price Performance

Shares of NASDAQ WAY traded up $0.05 during midday trading on Friday, hitting $31.19. 2,005,688 shares of the stock traded hands, compared to its average volume of 877,478. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $33.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29. The stock has a 50-day moving average price of $28.40.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $240.10 million for the quarter, compared to analysts' expectations of $223.82 million. The firm's quarterly revenue was up 21.7% on a year-over-year basis. On average, equities analysts predict that Waystar Holding Corp. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on WAY. Deutsche Bank Aktiengesellschaft upped their price target on shares of Waystar from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on shares of Waystar from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, August 19th. Bank of America increased their price objective on Waystar from $27.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Royal Bank of Canada increased their price target on shares of Waystar from $31.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group lifted their target price on shares of Waystar from $30.00 to $36.00 and gave the stock a "buy" rating in a research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $32.90.

Waystar Profile

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