State of Alaska Department of Revenue Buys Shares of 57,150 Waystar Holding Corp. $WAY

State of Alaska Department of Revenue bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 57,150 shares of the company’s stock, valued at approximately $2,167,000.

Several other institutional investors also recently modified their holdings of WAY. William Blair Investment Management LLC lifted its stake in shares of Waystar by 23.9% in the 2nd quarter. William Blair Investment Management LLC now owns 5,239,365 shares of the company’s stock valued at $214,133,000 after acquiring an additional 1,011,940 shares during the last quarter. Alliancebernstein L.P. raised its position 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 purchasing an additional 3,186,869 shares during the last quarter. Geode Capital Management LLC raised its position in Waystar by 14.9% in the second quarter. Geode Capital Management LLC now owns 2,376,932 shares of the company’s stock valued at $97,155,000 after purchasing an additional 309,119 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Waystar by 10.7% during the second quarter. Bank of America Corp DE now owns 2,087,680 shares of the company’s stock valued at $85,323,000 after purchasing an additional 201,262 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Waystar by 28.8% during the second quarter. State Street Corp now owns 2,017,593 shares of the company’s stock worth $82,459,000 after purchasing an additional 451,262 shares during the last quarter.

Wall Street Analysts Forecast Growth

WAY has been the subject of a number of research reports. JMP Securities initiated coverage on shares of Waystar in a report on Thursday, September 18th. They issued a “market outperform” rating and a $48.00 price objective for the company. UBS Group began coverage on shares of Waystar in a research note on Monday, December 15th. They set a “buy” rating and a $41.00 price target for the company. Mizuho lifted their price target on shares of Waystar from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Barclays decreased their price objective on Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, December 8th. Finally, BMO Capital Markets began coverage on Waystar in a report on Thursday, November 13th. They set an “outperform” rating and a $47.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $46.64.

Insider Buying and Selling at Waystar

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $30.41, for a total transaction of $262,225.43. Following the completion of the sale, the chief technology officer directly owned 422,371 shares in the company, valued at approximately $12,844,302.11. This trade represents a 2.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total value of $125,800.00. Following the completion of the transaction, the chief marketing officer directly owned 193,261 shares of the company’s stock, valued at approximately $7,150,657. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 49,749 shares of company stock valued at $1,718,384. 4.10% of the stock is currently owned by insiders.

Waystar Trading Down 2.3%

NASDAQ:WAY opened at $29.87 on Thursday. Waystar Holding Corp. has a 52 week low of $29.40 and a 52 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. The firm’s fifty day moving average is $33.90 and its 200-day moving average is $36.10. The firm has a market cap of $5.71 billion, a P/E ratio of 48.18, a P/E/G ratio of 0.38 and a beta of 0.76.

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.