M&T Bank Corp Buys 34,316 Shares of Waystar Holding Corp. (NASDAQ:WAY)

M&T Bank Corp raised its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 116.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 63,746 shares of the company’s stock after purchasing an additional 34,316 shares during the quarter. M&T Bank Corp’s holdings in Waystar were worth $1,778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WAY. Peregrine Capital Management LLC acquired a new position in Waystar during the second quarter valued at approximately $9,010,000. TD Asset Management Inc acquired a new position in shares of Waystar in the 2nd quarter valued at $1,633,000. American Century Companies Inc. bought a new stake in shares of Waystar in the 2nd quarter valued at $28,357,000. Federated Hermes Inc. acquired a new stake in Waystar during the 2nd quarter worth $430,000. Finally, Canada Pension Plan Investment Board bought a new position in Waystar during the second quarter worth about $800,003,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Evercore ISI increased their price target on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Canaccord Genuity Group raised their target price on shares of Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a report on Friday, November 22nd. Bank of America raised their price objective on shares of Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada upped their target price on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $32.90.

Waystar Trading Down 0.4 %

WAY opened at $34.07 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29. The stock’s 50-day moving average is $29.76. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week high of $34.60.

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

About Waystar

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