Westwind Capital Takes $15.51 Million Position in Waystar Holding Corp. (NASDAQ:WAY)

Westwind Capital purchased a new position in Waystar Holding Corp. (NASDAQ:WAY) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 415,045 shares of the company’s stock, valued at approximately $15,506,000. Waystar accounts for approximately 3.9% of Westwind Capital’s holdings, making the stock its 12th biggest position. Westwind Capital owned about 0.24% of Waystar at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Waystar during the 1st quarter valued at approximately $212,000. Azzad Asset Management Inc. ADV purchased a new position in Waystar during the 1st quarter valued at about $822,000. Aubrey Capital Management Ltd raised its holdings in shares of Waystar by 11.8% in the 1st quarter. Aubrey Capital Management Ltd now owns 95,000 shares of the company’s stock valued at $3,549,000 after purchasing an additional 10,000 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Waystar during the first quarter worth approximately $378,000. Finally, MRA Advisory Group purchased a new stake in Waystar during the first quarter worth approximately $377,000.

Insiders Place Their Bets

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $40.58, for a total transaction of $349,921.34. Following the transaction, the chief technology officer now owns 438,044 shares of the company’s stock, valued at $17,775,825.52. The trade was a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of Waystar stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 8,684,024 shares of company stock valued at $325,277,756 over the last 90 days. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WAY. Citigroup began coverage on shares of Waystar in a research note on Wednesday. They issued a “buy” rating and a $45.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on shares of Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. TD Cowen upgraded shares of Waystar to a “strong-buy” rating in a report on Thursday, June 5th. Truist Financial set a $50.00 price target on shares of Waystar and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Barclays cut their price objective on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Waystar currently has an average rating of “Buy” and an average target price of $40.85.

Waystar Price Performance

Shares of WAY stock opened at $39.76 on Friday. The firm has a market cap of $6.88 billion and a P/E ratio of 441.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.12 and a quick ratio of 3.12. Waystar Holding Corp. has a 1-year low of $20.26 and a 1-year high of $48.11. The firm has a fifty day moving average of $38.98 and a two-hundred day moving average of $38.67.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, research analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Waystar Company Profile

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