Waystar Holding Corp. (NASDAQ:WAY) Stake Increased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC raised its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 36.5% during the third quarter, HoldingsChannel reports. The fund owned 3,402,294 shares of the company’s stock after acquiring an additional 909,715 shares during the quarter. Waystar comprises approximately 1.2% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 24th largest position. ArrowMark Colorado Holdings LLC’s holdings in Waystar were worth $94,890,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new position in shares of Waystar in the 3rd quarter worth approximately $41,000. Smithfield Trust Co acquired a new position in Waystar in the third quarter worth $68,000. RiverPark Advisors LLC bought a new stake in Waystar during the third quarter valued at $78,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Waystar during the second quarter worth $145,000. Finally, Scientech Research LLC bought a new position in shares of Waystar in the 2nd quarter worth about $289,000.

Waystar Stock Performance

Shares of NASDAQ WAY opened at $30.88 on Monday. The company’s 50-day moving average is $28.86. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $33.25. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $223.82 million. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, sell-side analysts expect that Waystar Holding Corp. will post 0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WAY. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Friday, November 22nd. Royal Bank of Canada boosted their price objective on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their target price on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America boosted their price target on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Evercore ISI increased their price objective on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waystar currently has a consensus rating of “Buy” and an average target price of $32.90.

Waystar Profile

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