Davidson Kempner Capital Management LP Buys Shares of 200,000 Waystar Holding Corp. (NASDAQ:WAY)

Davidson Kempner Capital Management LP acquired a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the company's stock, valued at approximately $4,300,000. Davidson Kempner Capital Management LP owned 0.12% of Waystar at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. bought a new position in shares of Waystar during the second quarter valued at approximately $430,000. Sei Investments Co. purchased a new stake in shares of Waystar during the 2nd quarter valued at $1,435,000. TD Asset Management Inc purchased a new stake in shares of Waystar during the 2nd quarter valued at $1,633,000. Magnetar Financial LLC purchased a new position in Waystar in the 2nd quarter worth $2,495,000. Finally, Peregrine Capital Management LLC purchased a new position in Waystar in the 2nd quarter worth $9,010,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WAY. Raymond James began coverage on Waystar in a research report on Tuesday, July 2nd. They set an "outperform" rating and a $30.00 price target on the stock. Royal Bank of Canada increased their price target on Waystar from $27.00 to $31.00 and gave the stock an "outperform" rating in a research report on Friday, September 6th. Bank of America began coverage on Waystar in a research report on Tuesday, July 2nd. They set a "buy" rating and a $27.00 price target on the stock. Evercore ISI increased their price target on Waystar from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group began coverage on Waystar in a research report on Tuesday, July 2nd. They set a "buy" rating and a $32.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $28.90.

Waystar Stock Performance

WAY stock remained flat at $27.33 during trading on Monday. The company had a trading volume of 520,839 shares, compared to its average volume of 918,016. Waystar Holding Corp. has a 12 month low of $20.26 and a 12 month high of $28.57. The company's fifty day simple moving average is $25.10.

Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The business had revenue of $234.50 million during the quarter, compared to analysts' expectations of $216.25 million. During the same period last year, the business earned ($0.07) earnings per share. The company's revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Waystar Holding Corp. will post -0.08 earnings per share for the current fiscal year.

Waystar Profile

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