KLP Kapitalforvaltning AS Takes Position in Waystar Holding Corp. (NASDAQ:WAY)

KLP Kapitalforvaltning AS acquired a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,700 shares of the company's stock, valued at approximately $283,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in Waystar by 0.4% in the 4th quarter. American Century Companies Inc. now owns 1,476,236 shares of the company's stock valued at $54,178,000 after purchasing an additional 6,409 shares during the period. Quantbot Technologies LP purchased a new position in shares of Waystar in the 4th quarter worth about $1,622,000. Swiss National Bank bought a new position in Waystar during the fourth quarter valued at about $3,009,000. Burkehill Global Management LP purchased a new stake in Waystar during the fourth quarter worth about $23,855,000. Finally, AGF Management Ltd. bought a new stake in Waystar in the fourth quarter worth about $7,778,000.

Insider Transactions at Waystar

In other news, insider T. Craig Bridge sold 182,914 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the completion of the transaction, the insider now owns 519,658 shares of the company's stock, valued at approximately $21,903,584.70. The trade was a 26.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the completion of the sale, the chief marketing officer now directly owns 43,478 shares in the company, valued at $1,832,597.70. This represents a 7.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,356,171 shares of company stock valued at $526,733,651.

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Analyst Ratings Changes

A number of research analysts have recently weighed in on WAY shares. Jefferies Financial Group began coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price for the company. Canaccord Genuity Group increased their price objective on Waystar from $42.00 to $50.00 and gave the company a "buy" rating in a report on Monday, February 24th. Truist Financial initiated coverage on Waystar in a research note on Friday, March 14th. They issued a "buy" rating and a $45.00 target price on the stock. Barclays upped their price target on Waystar from $42.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Finally, Bank of America lifted their price objective on Waystar from $36.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $40.75.

Waystar Trading Up 2.9 %

WAY stock traded up $1.04 during mid-day trading on Friday, reaching $37.27. 1,275,625 shares of the company traded hands, compared to its average volume of 1,388,776. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week 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. The company has a fifty day moving average price of $39.51 and a 200-day moving average price of $35.09.

Waystar (NASDAQ:WAY - Get Free Report) last posted 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 firm had revenue of $244.10 million for the quarter, compared to the consensus estimate of $232.29 million. On average, analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.

Waystar Company Profile

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