M&T Bank Corp Purchases 10,644 Shares of Waystar Holding Corp. (NASDAQ:WAY)

M&T Bank Corp lifted its position in shares of Waystar Holding Corp. (NASDAQ:WAY) by 16.7% in the 4th quarter, Holdings Channel reports. The fund owned 74,390 shares of the company’s stock after buying an additional 10,644 shares during the quarter. M&T Bank Corp’s holdings in Waystar were worth $2,730,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WAY. Geode Capital Management LLC grew its stake in shares of Waystar by 697.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock worth $30,724,000 after acquiring an additional 963,316 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in Waystar by 36.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock worth $94,890,000 after purchasing an additional 909,715 shares during the period. State Street Corp bought a new position in Waystar in the 3rd quarter worth about $16,816,000. Charles Schwab Investment Management Inc. bought a new position in Waystar in the 3rd quarter worth about $10,224,000. Finally, Bank of New York Mellon Corp boosted its stake in Waystar by 103.7% in the 4th quarter. Bank of New York Mellon Corp now owns 239,050 shares of the company’s stock worth $8,773,000 after purchasing an additional 121,702 shares during the period.

Waystar Price Performance

Shares of NASDAQ WAY opened at $37.42 on Friday. 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 Holding Corp. has a 1-year low of $20.26 and a 1-year high of $48.11. The stock’s 50-day moving average is $40.18 and its 200 day moving average is $33.23.

Waystar (NASDAQ:WAY) last announced 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. On average, equities research analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America raised their target price on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays raised their target price on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group raised their target price on Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. 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 research note on Wednesday, February 19th. Finally, Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $40.36.

Insider Activity at Waystar

In other Waystar news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction that occurred on 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 directly owns 29,692,286 shares of the company’s stock, valued at $1,187,691,440. The trade was a 20.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total value of $564,810.74. Following the completion of the transaction, the chief financial officer now directly owns 173,642 shares in the company, valued at $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,372,837 shares of company stock valued at $527,298,461.

Waystar Profile

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