Geode Capital Management LLC Raises Stake in Waystar Holding Corp. (NASDAQ:WAY)

Geode Capital Management LLC lifted its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 697.5% during the 3rd quarter, Holdings Channel reports. The fund owned 1,101,424 shares of the company’s stock after buying an additional 963,316 shares during the quarter. Geode Capital Management LLC’s holdings in Waystar were worth $30,724,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of WAY. Cerity Partners LLC grew its position in Waystar by 1.5% in the third quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock worth $1,302,000 after acquiring an additional 699 shares during the period. Amalgamated Bank acquired a new position in shares of Waystar in the 3rd quarter valued at $41,000. Smithfield Trust Co purchased a new position in shares of Waystar during the 3rd quarter worth $68,000. RiverPark Advisors LLC acquired a new stake in shares of Waystar during the 3rd quarter worth about $78,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Waystar in the 2nd quarter valued at about $145,000.

Insider Transactions at Waystar

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the business’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 transaction of $564,810.74. Following the completion of the sale, the chief financial officer now owns 173,642 shares in the company, valued at approximately $5,884,727.38. The trade was a 8.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Waystar Stock Performance

WAY stock opened at $38.17 on Friday. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $38.35. The stock’s 50 day moving average price is $31.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. The firm had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $223.82 million. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. Equities analysts anticipate that Waystar Holding Corp. will post 0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Bank of America lifted their price target on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Evercore ISI lifted their target price on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Canaccord Genuity Group raised their price target on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, November 22nd. Ten equities research 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.com, Waystar has an average rating of “Buy” and a consensus price target of $32.90.

About Waystar

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