Waystar Holding Corp. (NASDAQ:WAY) Major Shareholder Canada Pension Plan Investment Sells 4,111,357 Shares of Stock

Waystar Holding Corp. (NASDAQ:WAY) major shareholder Canada Pension Plan Investment sold 4,111,357 shares of Waystar stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $37.39, for a total value of $153,723,638.23. Following the sale, the insider now directly owns 25,580,929 shares in the company, valued at approximately $956,470,935.31. This trade represents a 13.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Canada Pension Plan Investment also recently made the following trade(s):

• On Tuesday, May 20th, Canada Pension Plan Investment sold 616,704 shares of Waystar stock. The shares were sold at an average price of $37.39, for a total value of $23,058,562.56.
• On Monday, February 24th, Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00.

Waystar Stock Up 0.2%

NASDAQ WAY opened at $39.65 on Wednesday. Waystar Holding Corp. has a 12 month low of $20.26 and a 12 month high of $48.11. The company has a market capitalization of $6.86 billion and a P/E ratio of 440.56. The company’s 50 day simple moving average is $37.78 and its 200 day simple moving average is $37.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WAY shares. Barclays decreased their price target on Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Jefferies Financial Group initiated coverage on shares of Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price for the company. The Goldman Sachs Group boosted their price target on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group reduced their price target on shares of Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Truist Financial set a $50.00 price objective on shares of Waystar and gave the company a “buy” rating in a research note on Wednesday, May 7th. Twelve 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, Waystar currently has an average rating of “Buy” and a consensus price target of $40.50.

Hedge Funds Weigh In On Waystar

A number of hedge funds have recently modified their holdings of WAY. Barclays PLC raised its holdings in shares of Waystar by 701.7% during the third quarter. Barclays PLC now owns 64,934 shares of the company’s stock valued at $1,811,000 after acquiring an additional 56,834 shares during the period. Perpetual Ltd purchased a new position in Waystar during the 4th quarter worth approximately $558,000. Dakota Wealth Management acquired a new stake in Waystar during the 4th quarter valued at $264,000. Entropy Technologies LP acquired a new stake in Waystar during the 4th quarter valued at $289,000. Finally, Aubrey Capital Management Ltd purchased a new stake in shares of Waystar in the fourth quarter valued at $3,120,000.

Waystar Company Profile

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