Smithfield Trust Co Buys 5,125 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Smithfield Trust Co raised its stake in Waystar Holding Corp. (NASDAQ:WAY) by 210.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,560 shares of the company’s stock after purchasing an additional 5,125 shares during the period. Smithfield Trust Co’s holdings in Waystar were worth $277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new stake in Waystar during the 4th quarter valued at $25,000. Cerity Partners LLC lifted its position in Waystar by 1.5% in the 3rd quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock valued at $1,302,000 after acquiring an additional 699 shares in the last quarter. Amalgamated Bank bought a new position in Waystar in the 3rd quarter valued at about $41,000. RiverPark Advisors LLC bought a new position in Waystar in the 3rd quarter valued at about $78,000. Finally, Dakota Wealth Management bought a new stake in Waystar during the fourth quarter worth $264,000.

Wall Street Analyst Weigh In

WAY has been the subject of several recent research reports. Barclays upped their price target on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Friday, November 22nd. Bank of America raised their price target on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Canaccord Genuity Group raised their price target 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, Evercore ISI raised their price target on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Eleven 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, the company has an average rating of “Buy” and a consensus target price of $40.36.

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 stock was 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 of the company’s stock, valued at approximately $1,187,691,440. This represents a 20.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the transaction, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at $5,884,727.38. The trade was a 8.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,372,837 shares of company stock worth $527,298,461 over the last quarter.

Waystar Price Performance

Waystar stock opened at $43.69 on Thursday. Waystar Holding Corp. has a twelve month low of $20.26 and a twelve month high of $48.11. The firm has a 50 day moving average price of $40.14 and a 200-day moving average price of $33.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY) last issued its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to the consensus estimate 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.