Victory Capital Management Inc. Makes New $2.42 Million Investment in Waystar Holding Corp. (NASDAQ:WAY)

Victory Capital Management Inc. purchased a new stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,845 shares of the company's stock, valued at approximately $2,417,000.

Other large investors have also bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of Waystar in the fourth quarter valued at approximately $25,000. Amalgamated Bank purchased a new position in shares of Waystar in the 3rd quarter worth about $41,000. Smithfield Trust Co bought a new position in Waystar during the third quarter valued at about $68,000. RiverPark Advisors LLC purchased a new stake in Waystar during the third quarter worth about $78,000. Finally, Stifel Financial Corp bought a new stake in Waystar in the third quarter worth about $204,000.

Insider Activity

In other Waystar news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the sale, the insider now owns 29,692,286 shares of the company's stock, valued at $1,187,691,440. This trade represents a 20.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider T. Craig Bridge sold 182,914 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the transaction, the insider now directly owns 519,658 shares of the company's stock, valued at approximately $21,903,584.70. This trade represents a 26.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,356,171 shares of company stock valued at $526,733,651.

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Waystar Stock Performance

Shares of WAY stock traded up $0.72 during trading hours on Thursday, hitting $38.19. 1,261,268 shares of the company's stock were exchanged, compared to its average volume of 1,310,531. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11. The business's 50 day simple moving average is $40.10 and its 200-day simple moving average is $33.78. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analysts' expectations of $232.29 million. As a group, sell-side analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WAY has been the subject of several research reports. The Goldman Sachs Group increased their price target on Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Raymond James upgraded shares of Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target for the company in a research report on Friday, November 22nd. Barclays increased their price objective on Waystar from $42.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Bank of America boosted their target price on Waystar from $36.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Canaccord Genuity Group raised their price target on Waystar from $42.00 to $50.00 and gave the company a "buy" rating in a report on Monday, February 24th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Waystar has a consensus rating of "Buy" and a consensus target price of $40.75.

Waystar Profile

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