Smithfield Trust Co Raises Position in Waystar Holding Corp. (NASDAQ:WAY)

Smithfield Trust Co increased its holdings in Waystar Holding Corp. (NASDAQ:WAY) by 210.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,560 shares of the company’s stock after acquiring an additional 5,125 shares during the quarter. Smithfield Trust Co’s holdings in Waystar were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. purchased a new position in shares of Waystar during the fourth quarter worth about $2,417,000. Charles Schwab Investment Management Inc. raised its position in shares of Waystar by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company’s stock valued at $13,862,000 after buying an additional 11,117 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Waystar by 103.7% during the 4th quarter. Bank of New York Mellon Corp now owns 239,050 shares of the company’s stock valued at $8,773,000 after buying an additional 121,702 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Waystar during the 4th quarter valued at $25,000. Finally, Legato Capital Management LLC purchased a new stake in shares of Waystar during the 4th quarter valued at $420,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WAY shares. Evercore ISI upped their price objective on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Raymond James upgraded 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. Canaccord Genuity Group lifted their price target on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Bank of America lifted their price target on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada lifted 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. Eleven 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, Waystar currently has a consensus rating of “Buy” and a consensus price target of $40.36.

Waystar Trading Up 4.2 %

Shares of WAY opened at $43.69 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The firm has a fifty day simple moving average of $40.14 and a two-hundred day simple moving average of $33.05. Waystar Holding Corp. has a twelve month low of $20.26 and a twelve month high of $48.11.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million for the quarter, compared to analysts’ expectations of $232.29 million. As a group, equities analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the transaction, the chief financial officer now owns 173,642 shares in the company, valued at $5,884,727.38. The trade was a 8.76 % 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, insider T. Craig Bridge sold 182,914 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the transaction, the insider now owns 519,658 shares in the company, valued at $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 13,372,837 shares of company stock worth $527,298,461 in the last 90 days.

Waystar Profile

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