Geode Capital Management LLC Has $97.16 Million Stake in Waystar Holding Corp. $WAY

Geode Capital Management LLC raised its position in Waystar Holding Corp. (NASDAQ:WAY) by 14.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,376,932 shares of the company’s stock after purchasing an additional 309,119 shares during the quarter. Geode Capital Management LLC’s holdings in Waystar were worth $97,155,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Central Pacific Bank Trust Division acquired a new stake in Waystar in the second quarter valued at $33,000. Nisa Investment Advisors LLC lifted its holdings in Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after buying an additional 358 shares during the period. State of Wyoming acquired a new stake in Waystar during the 1st quarter worth about $54,000. Quarry LP acquired a new position in shares of Waystar in the 1st quarter valued at about $60,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Waystar during the first quarter worth approximately $127,000.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Mizuho increased their price target on Waystar from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Waystar in a report on Wednesday, October 8th. JMP Securities initiated coverage on Waystar in a research note on Thursday, September 18th. They set a “market outperform” rating and a $48.00 price target on the stock. Citigroup raised their price objective on Waystar from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Needham & Company LLC began coverage on shares of Waystar in a research report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $48.69.

Waystar Trading Up 2.7%

NASDAQ WAY opened at $35.74 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $37.15 and a 200 day simple moving average of $37.70. Waystar Holding Corp. has a 12 month low of $29.29 and a 12 month high of $48.11. The firm has a market capitalization of $6.84 billion, a P/E ratio of 57.65, a PEG ratio of 0.53 and a beta of 0.64.

Insider Buying and Selling

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $36.12, for a total value of $311,462.76. Following the completion of the sale, the chief technology officer directly owned 422,371 shares of the company’s stock, valued at approximately $15,256,040.52. This represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Hawkins sold 12,800 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $38.08, for a total transaction of $487,424.00. Following the completion of the sale, the chief executive officer owned 717,474 shares of the company’s stock, valued at approximately $27,321,409.92. This trade represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,499,581 shares of company stock valued at $176,385,287 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Waystar Profile

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