Waystar Holding Corp. (NASDAQ:WAY) Shares Acquired by M&T Bank Corp

M&T Bank Corp lifted its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,390 shares of the company's stock after purchasing an additional 10,644 shares during the period. M&T Bank Corp's holdings in Waystar were worth $2,730,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WAY. Global Retirement Partners LLC acquired a new position in Waystar during the fourth quarter worth about $25,000. Amalgamated Bank purchased a new position in Waystar during the third quarter worth $41,000. Smithfield Trust Co acquired a new position in shares of Waystar in the third quarter worth $68,000. RiverPark Advisors LLC purchased a new position in Waystar in the 3rd quarter valued at about $78,000. Finally, Stifel Financial Corp acquired a new stake in Waystar during the third quarter worth approximately $204,000.

Waystar Stock Performance

Shares of Waystar stock traded down $3.25 on Friday, hitting $37.42. 5,473,682 shares of the company's stock traded hands, compared to its average volume of 1,283,694. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The firm's 50-day moving average is $40.18 and its 200 day moving average is $33.23. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.11. The company had revenue of $244.10 million for the quarter, compared to analyst estimates of $232.29 million. As a group, equities analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

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Insider Activity at Waystar

In other news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the completion of the transaction, the chief financial officer now directly owns 173,642 shares of the company's stock, valued at approximately $5,884,727.38. The trade was a 8.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $42.15, for a total transaction of $143,310.00. Following the sale, the chief marketing officer now owns 43,478 shares in the company, valued at approximately $1,832,597.70. This trade represents a 7.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,372,837 shares of company stock valued at $527,298,461 over the last three months.

Analysts Set New Price Targets

A number of brokerages have issued reports on WAY. Bank of America raised their price target on Waystar from $36.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Raymond James raised shares of Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 price objective for the company in a research report on Friday, November 22nd. Barclays upped their price target on shares of Waystar from $42.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Canaccord Genuity Group boosted their price objective on Waystar from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Finally, Jefferies Financial Group began coverage on Waystar in a report on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price on the stock. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $40.36.

Waystar Company Profile

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