Prudential Financial Inc. Sells 85,602 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Prudential Financial Inc. trimmed its position in shares of Waystar Holding Corp. (NASDAQ:WAY) by 93.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,528 shares of the company’s stock after selling 85,602 shares during the quarter. Prudential Financial Inc.’s holdings in Waystar were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of WAY. Vanguard Group Inc. boosted its holdings in shares of Waystar by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock worth $183,182,000 after buying an additional 1,054,180 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Waystar during the 4th quarter worth $283,000. American Century Companies Inc. boosted its stake in shares of Waystar by 0.4% during the 4th quarter. American Century Companies Inc. now owns 1,476,236 shares of the company’s stock worth $54,178,000 after acquiring an additional 6,409 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Waystar during the 4th quarter valued at $1,622,000. Finally, Swiss National Bank purchased a new stake in shares of Waystar in the 4th quarter worth $3,009,000.

Analysts Set New Price Targets

Several research firms recently weighed in on WAY. Canaccord Genuity Group lifted their target price on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Bank of America boosted their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Truist Financial initiated coverage on shares of Waystar in a research note on Friday, March 14th. They set a “buy” rating and a $45.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group started coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a “buy” rating and a $51.00 price objective on the stock. Twelve 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 MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $40.75.

Insiders Place Their Bets

In related news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the completion of the transaction, the insider now owns 29,692,286 shares of the company’s stock, valued at approximately $1,187,691,440. This trade represents a 20.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider T. Craig Bridge sold 182,914 shares of the business’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 value of $7,709,825.10. Following the sale, the insider now directly owns 519,658 shares in the company, valued at $21,903,584.70. The trade was a 26.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,356,171 shares of company stock valued at $526,733,651 in the last quarter.

Waystar Stock Up 2.9 %

WAY opened at $37.27 on Friday. 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 company has a fifty day moving average of $39.51 and a 200 day moving average of $35.09. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $48.11.

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

Waystar Profile

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