Legato Capital Management LLC Boosts Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Legato Capital Management LLC raised its holdings in Waystar Holding Corp. (NASDAQ:WAY) by 8.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,398 shares of the company’s stock after acquiring an additional 960 shares during the period. Legato Capital Management LLC’s holdings in Waystar were worth $463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS grew its holdings in Waystar by 72.7% in the 1st quarter. KLP Kapitalforvaltning AS now owns 13,300 shares of the company’s stock valued at $497,000 after buying an additional 5,600 shares during the period. Jackson Creek Investment Advisors LLC acquired a new position in shares of Waystar in the 1st quarter valued at about $1,302,000. Verdence Capital Advisors LLC acquired a new position in shares of Waystar in the 1st quarter valued at about $251,000. Victory Capital Management Inc. lifted its stake in shares of Waystar by 170.4% in the 1st quarter. Victory Capital Management Inc. now owns 178,024 shares of the company’s stock valued at $6,651,000 after purchasing an additional 112,179 shares in the last quarter. Finally, Dakota Wealth Management lifted its stake in shares of Waystar by 365.6% in the 1st quarter. Dakota Wealth Management now owns 33,511 shares of the company’s stock valued at $1,252,000 after purchasing an additional 26,313 shares in the last quarter.

Insiders Place Their Bets

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of Waystar stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $37.10, for a total transaction of $359,944.20. Following the sale, the insider directly owned 490,870 shares in the company, valued at $18,211,277. The trade was a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider T. Craig Bridge sold 85,000 shares of Waystar stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $37.09, for a total value of $3,152,650.00. Following the sale, the insider owned 682,843 shares in the company, valued at $25,326,646.87. This represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,778,726 shares of company stock valued at $328,889,968 over the last 90 days. 4.10% of the stock is owned by company insiders.

Waystar Price Performance

WAY stock opened at $35.83 on Friday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.39. Waystar Holding Corp. has a 52-week low of $20.74 and a 52-week high of $48.11. The stock’s 50 day moving average is $38.68 and its two-hundred day moving average is $38.89. The company has a market capitalization of $6.24 billion and a PE ratio of 398.16.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Waystar had a return on equity of 3.10% and a net margin of 2.67%. The company had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. Waystar’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WAY has been the topic of several research analyst reports. TD Cowen raised Waystar to a “strong-buy” rating in a research note on Thursday, June 5th. Mizuho initiated coverage on Waystar in a research note on Monday, June 30th. They issued an “outperform” rating and a $48.00 price objective on the stock. Truist Financial lifted their price objective on Waystar from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Canaccord Genuity Group reduced their price objective on Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup initiated coverage on Waystar in a research note on Wednesday, June 25th. They issued a “buy” rating and a $45.00 price objective on the stock. Twelve research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $42.31.

Waystar Company Profile

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