Sterling Capital Management LLC Acquires 7,742 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Sterling Capital Management LLC lifted its stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 17.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,109 shares of the company's stock after buying an additional 7,742 shares during the period. Sterling Capital Management LLC's holdings in Waystar were worth $1,876,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Waystar in the 4th quarter valued at about $25,000. Russell Investments Group Ltd. raised its stake in shares of Waystar by 1.8% in the fourth quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company's stock worth $1,985,000 after purchasing an additional 964 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in shares of Waystar in the fourth quarter valued at approximately $48,000. Invesco Ltd. boosted its position in shares of Waystar by 10.1% during the fourth quarter. Invesco Ltd. now owns 22,160 shares of the company's stock valued at $813,000 after buying an additional 2,036 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Waystar by 8.3% during the fourth quarter. Alliancebernstein L.P. now owns 48,230 shares of the company's stock worth $1,770,000 after buying an additional 3,700 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial began coverage on shares of Waystar in a report on Friday, March 14th. They set a "buy" rating and a $45.00 price objective on the stock. Bank of America lifted their price target on shares of Waystar from $36.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Barclays reduced their target price on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Canaccord Genuity Group increased their price objective on Waystar from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group raised their price target on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $40.33.

Insiders Place Their Bets

In other Waystar news, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $36.36, for a total value of $1,696,812.12. Following the completion of the sale, the chief executive officer now owns 500,000 shares in the company, valued at approximately $18,180,000. This represents a 8.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $42.15, for a total value of $143,310.00. Following the completion of the transaction, the chief marketing officer now owns 43,478 shares in the company, valued at $1,832,597.70. The trade was a 7.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,411,461 shares of company stock worth $528,743,995.

Waystar Price Performance

NASDAQ:WAY traded down $0.26 during mid-day trading on Friday, reaching $36.45. The company's stock had a trading volume of 1,199,645 shares, compared to its average volume of 1,384,501. The firm's fifty day moving average price is $39.02 and its two-hundred day moving average price is $35.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million for the quarter, compared to the consensus estimate of $232.29 million. As a group, research analysts expect that Waystar Holding Corp. will post 0.39 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.