17,435,466 Shares in Waystar Holding Corp. $WAY Bought by BlackRock Inc.

BlackRock Inc. purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,435,466 shares of the company’s stock, valued at approximately $357,950,000. BlackRock Inc. owned approximately 0.09% of Waystar at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kennedy Capital Management LLC increased its stake in Waystar by 0.5% in the fourth quarter. Kennedy Capital Management LLC now owns 106,207 shares of the company’s stock valued at $3,478,000 after acquiring an additional 559 shares during the period. Pacer Advisors Inc. lifted its stake in Waystar by 22.1% during the fourth quarter. Pacer Advisors Inc. now owns 3,144 shares of the company’s stock worth $103,000 after purchasing an additional 569 shares during the period. State of Wyoming boosted its holdings in Waystar by 45.1% during the second quarter. State of Wyoming now owns 2,098 shares of the company’s stock valued at $86,000 after purchasing an additional 652 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Waystar by 3.7% in the 4th quarter. ProShare Advisors LLC now owns 21,474 shares of the company’s stock valued at $703,000 after purchasing an additional 764 shares during the period. Finally, Vinva Investment Management Ltd grew its stake in shares of Waystar by 9.3% in the 4th quarter. Vinva Investment Management Ltd now owns 9,202 shares of the company’s stock valued at $301,000 after purchasing an additional 786 shares during the period.

Insider Buying and Selling

In other Waystar news, CEO Matthew J. Hawkins sold 60,038 shares of Waystar stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $25.01, for a total value of $1,501,550.38. Following the transaction, the chief executive officer owned 1,835,081 shares of the company’s stock, valued at approximately $45,895,375.81. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on WAY shares. Wells Fargo & Company dropped their price objective on Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Weiss Ratings lowered shares of Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Citigroup reiterated a “buy” rating on shares of Waystar in a research report on Monday, July 20th. Barclays lifted their price target on shares of Waystar from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $33.00 price target on shares of Waystar in a research report on Thursday, July 30th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Waystar Trading Down 4.5%

WAY stock opened at $24.21 on Wednesday. The company has a market cap of $4.64 billion, a P/E ratio of 34.59, a PEG ratio of 0.99 and a beta of 0.06. Waystar Holding Corp. has a twelve month low of $17.26 and a twelve month 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. The business has a fifty day moving average of $22.46 and a 200-day moving average of $22.66.

Waystar (NASDAQ:WAY) last issued its earnings results 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. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The company had revenue of $319.67 million for the quarter, compared to analyst estimates of $316.21 million. During the same quarter last year, the firm earned $0.36 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities research 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.