Waystar Holding Corp. (NASDAQ:WAY) Shares Bought by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 980.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,969 shares of the company's stock after purchasing an additional 43,528 shares during the quarter. Legal & General Group Plc's holdings in Waystar were worth $1,760,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WAY. JPMorgan Chase & Co. increased its position in shares of Waystar by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company's stock worth $37,531,000 after purchasing an additional 96,552 shares in the last quarter. Barclays PLC increased its holdings in shares of Waystar by 701.7% in the third quarter. Barclays PLC now owns 64,934 shares of the company's stock valued at $1,811,000 after purchasing an additional 56,834 shares during the last quarter. Jane Street Group LLC purchased a new position in Waystar during the third quarter worth approximately $539,000. Raymond James Financial Inc. purchased a new position in Waystar during the fourth quarter worth approximately $1,504,000. Finally, Perpetual Ltd purchased a new stake in Waystar in the 4th quarter valued at $558,000.

Waystar Stock Performance

Shares of NASDAQ WAY traded up $0.39 during midday trading on Tuesday, hitting $37.03. The company's stock had a trading volume of 1,568,280 shares, compared to its average volume of 1,379,442. Waystar Holding Corp. has a 1 year low of $20.26 and a 1 year high of $48.11. The business's fifty day simple moving average is $38.02 and its two-hundred day simple moving average is $35.83. 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 posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analyst estimates of $232.29 million. Research analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction on Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the completion of the sale, the insider now directly owns 29,692,286 shares of the company's stock, valued at approximately $1,187,691,440. The trade was a 20.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $36.36, for a total value of $1,696,812.12. Following the completion of the transaction, the chief executive officer now directly owns 500,000 shares in the company, valued at $18,180,000. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,411,461 shares of company stock worth $528,743,995 in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America boosted their price target on shares of Waystar from $36.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Truist Financial initiated coverage on shares of Waystar in a research note on Friday, March 14th. They issued a "buy" rating and a $45.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 price target on the stock. Canaccord Genuity Group increased their price objective on Waystar from $42.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Finally, Barclays decreased their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $40.33.

Waystar Company Profile

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