Jennison Associates LLC Has $28.69 Million Stake in Waystar Holding Corp. (NASDAQ:WAY)

Jennison Associates LLC lowered its position in Waystar Holding Corp. (NASDAQ:WAY) by 30.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 781,708 shares of the company’s stock after selling 347,456 shares during the period. Jennison Associates LLC owned 0.45% of Waystar worth $28,689,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank bought a new stake in shares of Waystar during the 3rd quarter worth about $41,000. Smithfield Trust Co bought a new stake in Waystar during the third quarter worth approximately $68,000. RiverPark Advisors LLC acquired a new position in Waystar during the third quarter valued at approximately $78,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Waystar in the second quarter worth $145,000. Finally, Stifel Financial Corp bought a new stake in shares of Waystar during the 3rd quarter worth $204,000.

Waystar Stock Up 1.9 %

Shares of WAY stock opened at $41.06 on Wednesday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $35.96 and a 200 day moving average price of $30.13. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $41.74.

Waystar (NASDAQ:WAY) last posted its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates 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. Waystar’s quarterly revenue was up 21.7% compared to the same quarter last year. Research analysts anticipate that Waystar Holding Corp. will post 0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America lifted their target price on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Evercore ISI boosted their price objective on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group raised their target price on Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, January 3rd. The Goldman Sachs Group lifted their price target on Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Raymond James raised 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. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $35.10.

Insider Activity

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the sale, the chief financial officer now owns 173,642 shares of the company’s stock, valued at approximately $5,884,727.38. This represents a 8.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Waystar Profile

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