State Street Corp Makes New Investment in Waystar Holding Corp. (NASDAQ:WAY)

State Street Corp bought a new stake in Waystar Holding Corp. (NASDAQ:WAY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 602,929 shares of the company’s stock, valued at approximately $16,816,000. State Street Corp owned 0.35% of Waystar at the end of the most recent quarter.

Several other large investors have also modified their holdings of WAY. Amalgamated Bank purchased a new position in Waystar during the 3rd quarter worth $41,000. Smithfield Trust Co acquired a new position in shares of Waystar during the third quarter worth about $68,000. RiverPark Advisors LLC purchased a new position in Waystar during the third quarter worth about $78,000. Cubist Systematic Strategies LLC purchased a new position in Waystar during the second quarter worth about $145,000. Finally, Stifel Financial Corp acquired a new stake in Waystar in the third quarter valued at about $204,000.

Insider Transactions at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the transaction, the chief financial officer now owns 173,642 shares in the company, valued at approximately $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Waystar Stock Performance

Shares of NASDAQ WAY opened at $37.76 on Wednesday. The stock’s 50 day moving average price is $30.73. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar Holding Corp. has a 1 year low of $20.26 and a 1 year high of $37.82.

Waystar (NASDAQ:WAY) last released 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 business had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $223.82 million. The company’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts forecast that Waystar Holding Corp. will post 0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WAY shares. Evercore ISI increased their target price on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price objective on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America increased their price target on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada boosted their price objective on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Waystar currently has a consensus rating of “Buy” and a consensus target price of $32.90.

Waystar Profile

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