Waystar Holding Corp. (NASDAQ:WAY) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,345,687 shares of the company's stock after acquiring an additional 96,552 shares during the period. JPMorgan Chase & Co. owned approximately 0.78% of Waystar worth $37,531,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WAY. Canada Pension Plan Investment Board acquired a new stake in Waystar in the second quarter valued at $800,003,000. Deerfield Management Company L.P. Series C acquired a new stake in Waystar in the 2nd quarter valued at about $106,468,000. TPG GP A LLC purchased a new position in Waystar during the 2nd quarter valued at about $85,910,000. ArrowMark Colorado Holdings LLC raised its position in Waystar by 36.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company's stock worth $94,890,000 after acquiring an additional 909,715 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in Waystar during the second quarter worth about $28,357,000.

Insider Activity

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the company's stock in a transaction on 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 directly owns 173,642 shares of the company's stock, valued at approximately $5,884,727.38. This represents a 8.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Waystar Stock Performance

NASDAQ:WAY traded up $0.52 during trading hours on Monday, reaching $37.50. 1,275,845 shares of the company were exchanged, compared to its average volume of 1,112,148. The company's 50 day moving average is $32.46. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week high of $38.35. The company has a quick ratio of 2.29, a current 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 Wednesday, November 6th. The company reported $0.14 earnings per share 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 analysts' expectations of $223.82 million. The firm's quarterly revenue was up 21.7% on a year-over-year basis. Analysts expect that Waystar Holding Corp. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Raymond James raised shares of Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 price objective for the company in a research note on Friday, November 22nd. The Goldman Sachs Group boosted their price target on Waystar from $34.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Canaccord Genuity Group increased their price objective on Waystar from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Friday. Evercore ISI boosted 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. Finally, Royal Bank of Canada raised 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. Ten investment 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 currently has a consensus rating of "Buy" and an average price target of $34.60.

Waystar Company Profile

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