Simplicity Wealth LLC Makes New $784,000 Investment in Waystar Holding Corp. $WAY

Simplicity Wealth LLC bought a new stake in Waystar Holding Corp. (NASDAQ:WAY) during the 2nd quarter, Holdings Channel reports. The firm bought 38,183 shares of the company’s stock, valued at approximately $784,000.

Other hedge funds have also made changes to their positions in the company. Advent International L.P. acquired a new stake in shares of Waystar during the 4th quarter worth approximately $362,212,000. Alliancebernstein L.P. lifted its holdings in Waystar by 3,883.4% in the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after acquiring an additional 3,186,869 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Waystar in the second quarter valued at approximately $43,314,000. Alyeska Investment Group L.P. grew its position in Waystar by 4,717.4% in the third quarter. Alyeska Investment Group L.P. now owns 1,814,648 shares of the company’s stock worth $68,811,000 after acquiring an additional 1,776,979 shares during the period. Finally, Bamco Inc. NY purchased a new position in Waystar in the fourth quarter worth approximately $45,642,000.

Waystar Price Performance

Waystar stock opened at $24.78 on Monday. 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 Holding Corp. has a 52-week low of $17.26 and a 52-week high of $41.47. The firm has a market cap of $4.75 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 0.96 and a beta of 0.06. The company’s 50 day moving average is $21.62 and its two-hundred day moving average is $22.73.

Waystar (NASDAQ:WAY) last posted its quarterly 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. 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 the consensus estimate of $316.21 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, research analysts expect that Waystar Holding Corp. will post 1.47 EPS for the current fiscal year.

Insider Transactions at Waystar

In related news, CEO Matthew J. Hawkins sold 60,038 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the completion of the transaction, the chief executive officer directly owned 1,835,081 shares of the company’s stock, valued at $45,895,375.81. The trade was a 3.17% 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. Company insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $39.00 target price on shares of Waystar in a research note on Friday, July 31st. Wells Fargo & Company lowered their price target on Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. UBS Group cut their price objective on Waystar from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $32.00 target price on shares of Waystar in a research report on Thursday, April 30th. Finally, Barclays upped their target price on shares of Waystar from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Three investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Waystar Company 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.