Fred Alger Management LLC Invests $1.67 Million in Waystar Holding Corp. (NASDAQ:WAY)

Fred Alger Management LLC bought a new position in Waystar Holding Corp. (NASDAQ:WAY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 77,787 shares of the company’s stock, valued at approximately $1,672,000.

A number of other large investors have also bought and sold shares of WAY. Peregrine Capital Management LLC bought a new stake in Waystar during the 2nd quarter worth approximately $9,010,000. TD Asset Management Inc bought a new stake in Waystar during the 2nd quarter worth approximately $1,633,000. American Century Companies Inc. bought a new stake in Waystar during the 2nd quarter worth approximately $28,357,000. Federated Hermes Inc. bought a new stake in Waystar during the 2nd quarter worth approximately $430,000. Finally, Canada Pension Plan Investment Board bought a new stake in Waystar during the 2nd quarter worth approximately $800,003,000.

Analyst Ratings Changes

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Waystar from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Evercore ISI increased their price objective on Waystar from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price objective on Waystar from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. The Goldman Sachs Group assumed coverage on Waystar in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $28.90.

Waystar Stock Performance

NASDAQ:WAY opened at $27.78 on Friday. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $28.57. The business has a fifty day moving average of $25.51.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $234.50 million for the quarter, compared to analyst estimates of $216.25 million. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) EPS. Analysts forecast that Waystar Holding Corp. will post -0.08 EPS for the current fiscal year.

About Waystar

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