Public Sector Pension Investment Board Takes Position in Waystar Holding Corp. $WAY

Public Sector Pension Investment Board bought a new position in Waystar Holding Corp. (NASDAQ:WAY) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 448,416 shares of the company’s stock, valued at approximately $17,004,000. Public Sector Pension Investment Board owned 0.23% of Waystar as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Ground Swell Capital LLC purchased a new stake in Waystar in the third quarter worth about $213,000. Illinois Municipal Retirement Fund lifted its position in shares of Waystar by 231.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 59,775 shares of the company’s stock valued at $2,267,000 after buying an additional 41,731 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Waystar by 114.0% during the 3rd quarter. Rhumbline Advisers now owns 294,642 shares of the company’s stock valued at $11,173,000 after acquiring an additional 156,974 shares during the period. ProShare Advisors LLC grew its stake in shares of Waystar by 10.8% during the 3rd quarter. ProShare Advisors LLC now owns 20,710 shares of the company’s stock valued at $785,000 after acquiring an additional 2,011 shares during the period. Finally, Renaissance Group LLC purchased a new stake in Waystar in the 3rd quarter worth approximately $8,375,000.

Insider Buying and Selling at Waystar

In other news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total transaction of $125,800.00. Following the completion of the transaction, the chief marketing officer owned 193,261 shares in the company, valued at $7,150,657. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $30.08, for a total value of $1,209,968.00. Following the completion of the sale, the insider owned 474,826 shares in the company, valued at $14,282,766.08. This represents a 7.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 71,650 shares of company stock valued at $2,258,535 in the last 90 days. Insiders own 4.10% of the company’s stock.

Waystar Price Performance

Shares of NASDAQ:WAY opened at $22.41 on Friday. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 36.15, a P/E/G ratio of 0.28 and a beta of 0.75. The firm has a fifty day moving average price of $29.88 and a 200 day moving average price of $34.39. Waystar Holding Corp. has a fifty-two week low of $21.45 and a fifty-two week high of $48.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WAY. Wells Fargo & Company initiated coverage on shares of Waystar in a report on Thursday, January 8th. They set an “overweight” rating and a $41.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Waystar in a research report on Wednesday, January 21st. Zacks Research cut shares of Waystar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Mizuho set a $42.00 target price on shares of Waystar in a report on Wednesday, February 4th. Finally, Canaccord Genuity Group set a $54.00 price target on Waystar in a report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $45.50.

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.