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

Victory Capital Management Inc. bought a new position in Waystar Holding Corp. (NASDAQ:WAY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 65,845 shares of the company’s stock, valued at approximately $2,417,000.

Several other institutional investors have also recently made changes to their positions in the company. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Waystar by 36.5% in the 3rd 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. JPMorgan Chase & Co. lifted its holdings in shares of Waystar by 7.7% in the 3rd 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. Jennison Associates LLC lifted its holdings in shares of Waystar by 4.3% in the 3rd quarter. Jennison Associates LLC now owns 1,129,164 shares of the company’s stock worth $31,492,000 after acquiring an additional 46,264 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Waystar by 697.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock worth $30,724,000 after acquiring an additional 963,316 shares during the last quarter. Finally, State Street Corp bought a new stake in shares of Waystar in the 3rd quarter worth about $16,816,000.

Waystar Trading Up 3.4 %

NASDAQ:WAY opened at $36.47 on Monday. The firm has a 50-day simple moving average of $40.13 and a 200-day simple moving average of $33.62. 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 Holding Corp. has a one year low of $20.26 and a one year high of $48.11.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to analysts’ expectations of $232.29 million. On average, equities research analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Insider Transactions at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the sale, the chief marketing officer now owns 43,478 shares of the company’s stock, valued at approximately $1,832,597.70. The trade was a 7.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider T. Craig Bridge sold 182,914 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the sale, the insider now directly owns 519,658 shares in the company, valued at approximately $21,903,584.70. This represents a 26.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,356,171 shares of company stock valued at $526,733,651 in the last 90 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Bank of America lifted their price objective on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. Barclays lifted their price objective on shares of Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a report 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 objective for the company in a report on Friday, November 22nd. Finally, Canaccord Genuity Group lifted their price objective on shares of Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, February 24th. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $40.75.

About Waystar

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