Pictet Asset Management Holding SA Invests $237,000 in Waystar Holding Corp. (NASDAQ:WAY)

Pictet Asset Management Holding SA bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,470 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Waystar in the fourth quarter valued at approximately $119,387,000. Blair William & Co. IL increased its stake in shares of Waystar by 30.7% in the 4th quarter. Blair William & Co. IL now owns 59,542 shares of the company’s stock valued at $2,185,000 after acquiring an additional 14,000 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Waystar during the 4th quarter valued at $48,000. Vanguard Group Inc. boosted its stake in Waystar by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock worth $183,182,000 after acquiring an additional 1,054,180 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Waystar in the fourth quarter worth $283,000.

Waystar Stock Down 3.4 %

WAY opened at $36.23 on Friday. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The company’s 50-day moving average is $39.58 and its 200 day moving average is $35.02. 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 posted its earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.15 by $0.11. The firm had revenue of $244.10 million for the quarter, compared to the consensus estimate of $232.29 million. As a group, research analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Waystar news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $40.00, for a total value 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. The trade was a 20.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the completion of the transaction, the chief marketing officer now owns 43,478 shares in the company, valued at approximately $1,832,597.70. The trade was a 7.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,356,171 shares of company stock worth $526,733,651.

Analyst Upgrades and Downgrades

WAY has been the topic of several research reports. Jefferies Financial Group began coverage on shares of Waystar in a report on Tuesday, February 11th. They set a “buy” rating and a $51.00 price objective on the stock. The Goldman Sachs Group upped their price target on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group raised their price objective on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Barclays upped their target price on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Truist Financial began coverage on shares of Waystar in a research report on Friday, March 14th. They issued a “buy” rating and a $45.00 price target for the company. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $40.75.

About Waystar

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