59,509 Shares in Waystar Holding Corp. $WAY Bought by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY) during the second quarter, Holdings Channel.com reports. The fund purchased 59,509 shares of the company’s stock, valued at approximately $1,222,000.

Other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in Waystar in the second quarter worth about $390,593,000. BlackRock Inc. purchased a new position in shares of Waystar during the 2nd quarter valued at $357,950,000. Advent International L.P. purchased a new position in shares of Waystar during the 2nd quarter valued at $227,060,000. Alliancebernstein L.P. grew its stake in shares of Waystar by 3,883.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock worth $133,601,000 after acquiring an additional 3,186,869 shares during the period. Finally, Jupiter Topco LLC bought a new position in shares of Waystar during the 2nd quarter worth $58,960,000.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $44.00 price target on shares of Waystar in a research report on Thursday, August 27th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 target price on shares of Waystar in a research report on Wednesday, August 26th. Citigroup reiterated a “buy” rating on shares of Waystar in a research report on Monday, July 20th. Wells Fargo & Company lowered their target price on Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Finally, Barclays upped their price objective on shares of Waystar from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Waystar has an average rating of “Moderate Buy” and a consensus price target of $35.14.

Insider Buying and Selling at Waystar

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of Waystar stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $25.97, for a total transaction of $2,142,525.00. Following the transaction, the chief executive officer owned 1,804,794 shares of the company’s stock, valued at $46,870,500.18. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 165,000 shares of company stock worth $4,206,524. 3.50% of the stock is owned by insiders.

Waystar Stock Performance

Shares of WAY opened at $25.07 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. Waystar Holding Corp. has a 12 month low of $17.26 and a 12 month high of $41.47. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 35.81, a P/E/G ratio of 1.02 and a beta of 0.16. The business’s fifty day simple moving average is $23.57 and its two-hundred day simple moving average is $22.78.

Waystar (NASDAQ:WAY) last announced its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The business had revenue of $319.67 million during the quarter, compared to analyst estimates of $316.21 million. During the same period in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Research analysts anticipate that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.