Waystar Holding Corp. $WAY Position Cut by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in Waystar Holding Corp. (NASDAQ:WAY) by 13.3% during the 2nd quarter, Holdings Channel reports. The fund owned 169,608 shares of the company’s stock after selling 26,126 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Waystar were worth $3,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in WAY. Royal Bank of Canada boosted its position in Waystar by 11.3% during the 1st quarter. Royal Bank of Canada now owns 21,609 shares of the company’s stock worth $808,000 after acquiring an additional 2,195 shares during the period. AQR Capital Management LLC acquired a new position in shares of Waystar during the first quarter valued at $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Waystar by 91.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,911 shares of the company’s stock valued at $1,753,000 after purchasing an additional 22,364 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Waystar during the first quarter valued at about $234,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Waystar by 13.4% in the first quarter. Goldman Sachs Group Inc. now owns 747,268 shares of the company’s stock worth $27,918,000 after purchasing an additional 88,256 shares during the period.

Waystar Price Performance

NASDAQ:WAY opened at $23.06 on Friday. 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’s 50-day moving average price is $23.79 and its 200 day moving average price is $22.76. Waystar Holding Corp. has a 52-week low of $17.26 and a 52-week high of $40.35. The firm has a market cap of $4.42 billion, a P/E ratio of 32.94, a PEG ratio of 0.93 and a beta of 0.16.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $316.21 million. During the same period in the prior year, the company earned $0.36 EPS. Waystar’s revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts predict that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WAY has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on shares of Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of Waystar in a research note on Wednesday, August 26th. Wall Street Zen cut shares of Waystar from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Wells Fargo & Company lowered their price objective on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Citigroup reissued a “buy” rating on shares of Waystar in a report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Waystar currently has an average rating of “Moderate Buy” and an average price target of $35.14.

Insider Activity at Waystar

In related news, CEO Matthew Hawkins sold 82,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $25.97, for a total value of $2,142,525.00. Following the sale, the chief executive officer directly owned 1,804,794 shares in the company, valued at $46,870,500.18. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 165,000 shares of company stock valued at $4,206,524. 3.50% of the stock is owned by insiders.

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.