State Street Corp Makes New $16.82 Million Investment in Waystar Holding Corp. (NASDAQ:WAY)

State Street Corp purchased a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 602,929 shares of the company's stock, valued at approximately $16,816,000. State Street Corp owned 0.35% of Waystar at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC lifted its holdings in Waystar by 1.5% in the third quarter. Cerity Partners LLC now owns 46,699 shares of the company's stock valued at $1,302,000 after acquiring an additional 699 shares during the period. Amalgamated Bank bought a new position in shares of Waystar in the 3rd quarter worth approximately $41,000. Smithfield Trust Co purchased a new position in shares of Waystar in the third quarter worth approximately $68,000. RiverPark Advisors LLC bought a new stake in Waystar during the third quarter valued at approximately $78,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Waystar during the second quarter valued at approximately $145,000.

Waystar Stock Performance

NASDAQ:WAY traded up $0.83 during midday trading on Wednesday, hitting $37.76. 527,118 shares of the company traded hands, compared to its average volume of 963,781. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $37.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29. The firm has a fifty day moving average price of $30.93.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. Waystar's quarterly revenue was up 21.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Insider Activity at Waystar

In related 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 transaction of $564,810.74. Following the completion of the sale, the chief financial officer now owns 173,642 shares in the company, valued at $5,884,727.38. This trade represents a 8.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WAY shares. Royal Bank of Canada lifted their price target on shares of Waystar from $31.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Evercore ISI lifted their target price on shares of Waystar from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Bank of America upped their price target on Waystar from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their price objective on shares of Waystar from $34.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group increased their price target on Waystar from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Waystar has an average rating of "Buy" and a consensus 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.