Waystar Holding Corp. $WAY Position Reduced by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lessened its position in Waystar Holding Corp. (NASDAQ:WAY) by 20.4% in the third quarter, HoldingsChannel.com reports. The fund owned 1,297,662 shares of the company’s stock after selling 332,749 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Waystar were worth $32,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of WAY. Jupiter Topco LLC acquired a new stake in Waystar in the 2nd quarter valued at about $58,960,000. Clarkston Capital Partners LLC bought a new position in Waystar during the first quarter worth about $22,917,000. Bain Capital Venture Investors LLC bought a new position in Waystar during the second quarter worth about $18,127,271. Hsbc Holdings PLC acquired a new position in Waystar during the first quarter worth approximately $5,625,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Waystar during the second quarter worth approximately $43,314,000.

Insiders Place Their Bets

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $26.23, for a total value of $2,163,975.00. Following the transaction, the chief executive officer directly owned 1,804,794 shares of the company’s stock, valued at $47,339,746.62. This represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 247,500 shares of company stock valued at $6,370,499. 3.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on WAY shares. Citigroup restated a “buy” rating on shares of Waystar in a research note on Monday, July 20th. Weiss Ratings upgraded Waystar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $39.00 target price on shares of Waystar in a research note on Friday, July 31st. BMO Capital Markets reissued an “outperform” rating on shares of Waystar in a report on Thursday, August 27th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $28.00 price target on shares of Waystar in a research note on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.67.

Waystar Stock Performance

NASDAQ WAY opened at $28.24 on Friday. The firm has a 50-day moving average of $25.34 and a 200-day moving average of $22.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $5.42 billion, a PE ratio of 19.61, a P/E/G ratio of 1.05 and a beta of 0.18. Waystar Holding Corp. has a 52-week low of $17.26 and a 52-week high of $40.35.

Waystar (NASDAQ:WAY) last announced its earnings results on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $319.67 million during the quarter, compared to the consensus estimate of $316.21 million. Waystar had a net margin of 11.18% and a return on equity of 7.03%. Waystar’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, sell-side analysts anticipate that Waystar Holding Corp. will post 1.47 EPS for the current year.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software for managing healthcare payments and revenue cycle operations. Its platform connects healthcare providers, payers and patients to help streamline administrative and financial workflows across the healthcare system.

The company’s products and services include eligibility and benefits verification, claims management and submission, prior authorization, payment processing, patient billing, denial management and revenue cycle analytics.