Cinctive Capital Management LP Raises Stock Position in Waystar Holding Corp. (NASDAQ:WAY)

Cinctive Capital Management LP lifted its stake in Waystar Holding Corp. (NASDAQ:WAY) by 31.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 421,549 shares of the company’s stock after buying an additional 101,124 shares during the quarter. Cinctive Capital Management LP’s holdings in Waystar were worth $11,757,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WAY. Canada Pension Plan Investment Board purchased a new stake in Waystar in the second quarter worth about $800,003,000. Deerfield Management Company L.P. Series C bought a new position in shares of Waystar in the 2nd quarter worth approximately $106,468,000. TPG GP A LLC purchased a new position in shares of Waystar in the 2nd quarter valued at approximately $85,910,000. ArrowMark Colorado Holdings LLC boosted its position in shares of Waystar by 36.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock valued at $94,890,000 after purchasing an additional 909,715 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in Waystar in the second quarter worth $28,357,000.

Waystar Stock Performance

Waystar stock opened at $30.88 on Monday. The company’s 50-day moving average price is $28.86. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week high of $33.25. The company has a quick ratio of 2.29, a current 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 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. The company’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts expect that Waystar Holding Corp. will post 0.03 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, August 19th. The Goldman Sachs Group boosted their price objective on shares of Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their target price on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Bank of America upped their price target on Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada boosted their target price on Waystar from $31.00 to $34.00 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 assigned a strong buy rating to the stock. According to MarketBeat, Waystar currently has a consensus rating of “Buy” and an average target price of $32.90.

About Waystar

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