Wellington Management Group LLP Boosts Stock Holdings in Waystar Holding Corp. $WAY

Wellington Management Group LLP raised its stake in Waystar Holding Corp. (NASDAQ:WAY) by 23.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 793,481 shares of the company’s stock after purchasing an additional 148,846 shares during the period. Wellington Management Group LLP owned about 0.41% of Waystar worth $16,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of WAY. Canada Pension Plan Investment Board acquired a new stake in Waystar in the second quarter valued at $390,593,000. BlackRock Inc. purchased a new stake in Waystar in the second quarter valued at approximately $357,950,000. Advent International L.P. acquired a new stake in Waystar during the 2nd quarter worth $227,060,000. Alliancebernstein L.P. boosted its stake in shares of Waystar by 3,883.4% during the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock worth $133,601,000 after buying an additional 3,186,869 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in Waystar during the 2nd quarter worth approximately $58,960,000.

Analyst Ratings Changes

WAY has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $33.00 target price on shares of Waystar in a research note on Wednesday, August 26th. Barclays boosted their price target on Waystar from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. UBS Group dropped their price objective on Waystar from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Waystar in a research report on Thursday, August 27th. Finally, Wall Street Zen cut Waystar from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.14.

Insider Transactions at Waystar

In other news, CEO Matthew Hawkins sold 82,500 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $25.97, for a total value of $2,142,525.00. Following the transaction, the chief executive officer directly owned 1,804,794 shares in the company, valued at $46,870,500.18. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 165,000 shares of company stock worth $4,206,524 over the last ninety days. 3.50% of the stock is currently owned by insiders.

Waystar Stock Performance

NASDAQ:WAY opened at $25.07 on Monday. The company has a market cap of $4.81 billion, a P/E ratio of 35.81, a P/E/G ratio of 0.98 and a beta of 0.16. The firm’s 50 day moving average is $23.57 and its two-hundred day moving average is $22.79. Waystar Holding Corp. has a fifty-two week low of $17.26 and a fifty-two week high of $41.47. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.36.

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

Waystar Profile

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.