Raymond James Financial Inc. Purchases New Shares in Waystar Holding Corp. (NASDAQ:WAY)

Raymond James Financial Inc. acquired a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 40,973 shares of the company’s stock, valued at approximately $1,504,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAY. Jane Street Group LLC bought a new position in Waystar in the third quarter valued at about $539,000. Barclays PLC lifted its position in Waystar by 701.7% during the 3rd quarter. Barclays PLC now owns 64,934 shares of the company’s stock valued at $1,811,000 after purchasing an additional 56,834 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Waystar by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock valued at $37,531,000 after purchasing an additional 96,552 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Waystar during the 4th quarter worth approximately $1,905,000. Finally, Perpetual Ltd bought a new stake in shares of Waystar during the fourth quarter worth approximately $558,000.

Waystar Price Performance

Shares of WAY opened at $40.68 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The company’s fifty day simple moving average is $37.77 and its 200 day simple moving average is $36.02. Waystar Holding Corp. has a 1-year low of $20.26 and a 1-year high of $48.11.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WAY has been the topic of several recent research reports. Bank of America raised their price target on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group raised their target price on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Truist Financial began coverage on Waystar in a research note on Friday, March 14th. They issued a “buy” rating and a $45.00 price target for the company. Canaccord Genuity Group reduced their price objective on shares of Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Barclays lowered their target price on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $40.08.

Insider Activity

In other Waystar news, insider T. Craig Bridge sold 182,914 shares of the 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 transaction, the insider now owns 519,658 shares in the company, valued at $21,903,584.70. This trade represents a 26.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the completion of the sale, the insider now owns 29,692,286 shares of the company’s stock, valued at $1,187,691,440. This trade represents a 20.20 % 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 valued at $528,743,995 over the last three months.

Waystar Company Profile

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