Geode Capital Management LLC Purchases 18,872 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Geode Capital Management LLC boosted its position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,120,296 shares of the company's stock after buying an additional 18,872 shares during the quarter. Geode Capital Management LLC owned 0.65% of Waystar worth $41,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake 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 acquiring an additional 96,552 shares during the last quarter. Barclays PLC raised its position in 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 period. State Street Corp acquired a new position in shares of Waystar in the third quarter valued at approximately $16,816,000. Jane Street Group LLC purchased a new position in Waystar in the third quarter worth approximately $539,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Waystar during the 4th quarter worth approximately $1,504,000.

Waystar Stock Down 0.7 %

WAY traded down $0.26 during trading hours on Friday, hitting $36.45. 1,199,645 shares of the company's stock were exchanged, compared to its average volume of 1,384,501. The stock's 50-day moving average is $39.02 and its two-hundred day moving average is $35.35. Waystar Holding Corp. has a 1-year low of $20.26 and a 1-year high of $48.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55.

Waystar (NASDAQ:WAY - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $232.29 million. As a group, equities research analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction dated 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 transaction, the insider now directly owns 29,692,286 shares in the company, valued at $1,187,691,440. This trade represents a 20.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Hawkins sold 46,667 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $36.36, for a total transaction of $1,696,812.12. Following the transaction, the chief executive officer now owns 500,000 shares in the company, valued at approximately $18,180,000. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,411,461 shares of company stock valued at $528,743,995 over the last ninety days.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WAY. Bank of America lifted their target price on shares of Waystar from $36.00 to $43.00 and gave the company a "buy" rating in a report on Monday, January 6th. Jefferies Financial Group started coverage on Waystar in a research note on Tuesday, February 11th. They set a "buy" rating and a $51.00 price target for the company. The Goldman Sachs Group upped their target price on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Canaccord Genuity Group increased their price objective on shares of Waystar from $42.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Finally, Truist Financial initiated coverage on Waystar in a research note on Friday, March 14th. They issued a "buy" rating and a $45.00 target price for the company. Twelve 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, the company presently has a consensus rating of "Buy" and a consensus target price of $40.33.

About Waystar

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