Norges Bank Acquires New Shares in Waystar Holding Corp. (NASDAQ:WAY)

Norges Bank bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,253,050 shares of the company’s stock, valued at approximately $119,387,000. Norges Bank owned approximately 1.89% of Waystar as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. purchased a new stake in shares of Waystar in the 3rd quarter worth about $10,224,000. Cerity Partners LLC raised its position in 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 acquiring an additional 699 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Waystar in the third quarter valued at about $526,000. FMR LLC acquired a new stake in shares of Waystar in the third quarter valued at approximately $1,421,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Waystar during the 3rd quarter worth approximately $1,006,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WAY. Jefferies Financial Group assumed coverage on Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price on the stock. Barclays increased their price objective on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Bank of America raised their price target on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Truist Financial started coverage on shares of Waystar in a research report on Friday, March 14th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Canaccord Genuity Group raised their target price on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.75.

Insider Buying and Selling

In related 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 value 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 represents a 26.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $40.00, for a total value of $300,686,720.00. Following the transaction, the insider now owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. This represents a 20.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders 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. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The firm has a fifty day moving average of $40.21 and a 200-day moving average of $34.48. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week high of $48.11.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) 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. On average, sell-side analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Waystar Company Profile

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