Alliancebernstein L.P. Grows Stock Position in Waystar Holding Corp. (NASDAQ:WAY)

Alliancebernstein L.P. grew its position in shares of Waystar Holding Corp. (NASDAQ:WAY) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,230 shares of the company’s stock after buying an additional 3,700 shares during the period. Alliancebernstein L.P.’s holdings in Waystar were worth $1,770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WAY. Stifel Financial Corp bought a new position in Waystar in the 3rd quarter worth approximately $204,000. State Street Corp bought a new position in shares of Waystar in the third quarter worth $16,816,000. Jane Street Group LLC purchased a new position in shares of Waystar in the third quarter valued at $539,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Waystar during the 3rd quarter valued at $222,000. Finally, Barclays PLC lifted its holdings in Waystar by 701.7% during the 3rd quarter. Barclays PLC now owns 64,934 shares of the company’s stock worth $1,811,000 after purchasing an additional 56,834 shares in the last quarter.

Waystar Trading Down 0.7 %

NASDAQ:WAY opened at $36.45 on Friday. The business has a 50 day moving average of $39.14 and a 200 day moving average of $35.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. Waystar Holding Corp. has a 1-year low of $20.26 and a 1-year high of $48.11.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Bank of America lifted their target price on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. 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 note on Monday, February 24th. Truist Financial began coverage on shares of Waystar in a research note on Friday, March 14th. They issued a “buy” rating and a $45.00 target price on the stock. Barclays decreased their price target on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Jefferies Financial Group started coverage on Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective on the stock. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $40.33.

Insider Buying and Selling at Waystar

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the completion of the sale, the chief marketing officer now directly owns 43,478 shares in the company, valued at $1,832,597.70. This represents a 7.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider T. Craig Bridge sold 182,914 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 519,658 shares in the company, valued at approximately $21,903,584.70. This trade represents a 26.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,411,461 shares of company stock worth $528,743,995 over the last three months.

Waystar Profile

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