Bank of New York Mellon Corp Raises Stock Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Bank of New York Mellon Corp raised its position in Waystar Holding Corp. (NASDAQ:WAY) by 103.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 239,050 shares of the company’s stock after buying an additional 121,702 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.14% of Waystar worth $8,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of Waystar during the fourth quarter worth approximately $25,000. Amalgamated Bank acquired a new position in Waystar during the third quarter worth $41,000. Smithfield Trust Co acquired a new position in Waystar during the third quarter worth $68,000. RiverPark Advisors LLC acquired a new position in Waystar during the third quarter worth $78,000. Finally, Dakota Wealth Management acquired a new position in Waystar during the fourth quarter worth $264,000.

Insider Buying and Selling at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the transaction, the chief marketing officer now directly owns 43,478 shares in the company, valued at approximately $1,832,597.70. This represents a 7.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the company’s 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 transaction, the insider now owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. The trade was a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,356,171 shares of company stock valued at $526,733,651 in the last 90 days.

Waystar Stock Up 3.4 %

NASDAQ WAY opened at $36.47 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $40.13 and a two-hundred day moving average price of $33.52. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. Research analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a report on Friday, November 22nd. Bank of America upped their price objective on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Jefferies Financial Group assumed coverage on Waystar in a report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price on the stock. Canaccord Genuity Group upped their target price on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, February 24th. Finally, Barclays upped their target price on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Waystar has an average 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.