Norges Bank Makes New Investment in Waystar Holding Corp. (NASDAQ:WAY)

Norges Bank bought a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY) in the 4th quarter, Holdings Channel reports. The fund bought 3,253,050 shares of the company’s stock, valued at approximately $119,387,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Global Retirement Partners LLC bought a new position in Waystar during the 4th quarter valued at $25,000. Cerity Partners LLC lifted its position in shares of Waystar by 1.5% during the third quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock worth $1,302,000 after purchasing an additional 699 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in Waystar in the fourth quarter worth about $48,000. PNC Financial Services Group Inc. increased its holdings in Waystar by 40.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,383 shares of the company’s stock valued at $528,000 after buying an additional 4,165 shares during the last quarter. Finally, Smithfield Trust Co raised its stake in Waystar by 210.5% during the fourth quarter. Smithfield Trust Co now owns 7,560 shares of the company’s stock valued at $277,000 after buying an additional 5,125 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on WAY. The Goldman Sachs Group lifted their target price on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Truist Financial assumed coverage on shares of Waystar in a research note on Friday, March 14th. They set a “buy” rating and a $45.00 target price for the company. Jefferies Financial Group began coverage on shares of Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price target on the stock. Canaccord Genuity Group boosted their price objective on shares of Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, Barclays lifted their target price on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Twelve investment 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 has an average rating of “Buy” and a consensus price target of $40.75.

Insider Buying and Selling at Waystar

In other news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 29,692,286 shares in the company, valued at $1,187,691,440. The trade was a 20.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider T. Craig Bridge sold 182,914 shares of the firm’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 completion of the transaction, the insider now directly owns 519,658 shares of the company’s stock, valued at $21,903,584.70. This represents a 26.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,356,171 shares of company stock valued at $526,733,651.

Waystar Stock Down 1.2 %

Shares of NASDAQ WAY opened at $37.36 on Tuesday. Waystar Holding Corp. has a 1 year low of $20.26 and a 1 year high of $48.11. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $40.21 and a two-hundred day moving average price of $34.48.

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

Waystar Company Profile

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