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

Cinctive Capital Management LP raised its position in shares of Waystar Holding Corp. (NASDAQ:WAY) by 31.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 421,549 shares of the company’s stock after purchasing an additional 101,124 shares during the period. Cinctive Capital Management LP owned 0.24% of Waystar worth $11,757,000 as of its most recent filing with the Securities and Exchange Commission.

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

Waystar Trading Up 0.9 %

Shares of WAY stock opened at $30.88 on Monday. 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 Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $33.25. The company has a 50 day moving average of $28.86.

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

Analyst Ratings Changes

Several research firms recently commented on WAY. Evercore ISI boosted their target price on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price target on shares of Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $32.90.

Waystar Company Profile

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