Fred Alger Management LLC Lowers Stake in Waystar Holding Corp. (NASDAQ:WAY)

Fred Alger Management LLC cut its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY) by 68.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,348 shares of the company’s stock after selling 53,439 shares during the period. Fred Alger Management LLC’s holdings in Waystar were worth $679,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Amalgamated Bank acquired a new position in Waystar during the third quarter worth $41,000. Smithfield Trust Co purchased a new stake in shares of Waystar during the third quarter worth about $68,000. RiverPark Advisors LLC acquired a new position in shares of Waystar during the 3rd quarter worth about $78,000. Cubist Systematic Strategies LLC purchased a new position in Waystar in the 2nd quarter valued at about $145,000. Finally, Scientech Research LLC purchased a new stake in Waystar during the 2nd quarter worth approximately $289,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI lifted their target price on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Finally, Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, November 22nd. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and an average target price of $32.90.

Waystar Stock Up 0.9 %

WAY stock opened at $30.88 on Monday. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $33.25. The firm’s 50 day moving average price is $28.86. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $240.10 million during the quarter, compared to analyst estimates of $223.82 million. The firm’s revenue was up 21.7% on a year-over-year basis. As a group, research analysts expect that Waystar Holding Corp. will post 0.03 earnings per share for the current fiscal year.

Waystar Profile

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