WoodTrust Financial Corp Increases Position in Waystar Holding Corp. $WAY

WoodTrust Financial Corp raised its position in shares of Waystar Holding Corp. (NASDAQ:WAY) by 262.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,700 shares of the company’s stock after purchasing an additional 41,800 shares during the period. WoodTrust Financial Corp’s holdings in Waystar were worth $1,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in shares of Waystar during the second quarter valued at $390,593,000. BlackRock Inc. bought a new position in Waystar during the 2nd quarter worth about $357,950,000. Advent International L.P. purchased a new position in Waystar during the 2nd quarter valued at about $227,060,000. Jupiter Topco LLC purchased a new position in Waystar during the 2nd quarter valued at about $58,960,000. Finally, Bank of America Corp DE bought a new stake in shares of Waystar in the 2nd quarter valued at about $53,031,000.

Insider Activity at Waystar

In other news, CEO Matthew Hawkins sold 82,500 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $26.23, for a total transaction of $2,163,975.00. Following the completion of the sale, the chief executive officer owned 1,804,794 shares in the company, valued at approximately $47,339,746.62. This represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 247,500 shares of company stock worth $6,370,499. Corporate insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

WAY has been the topic of a number of recent research reports. Barclays downgraded shares of Waystar from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $27.00 to $30.00 in a research note on Tuesday, September 15th. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price objective on shares of Waystar in a research note on Wednesday, August 26th. UBS Group lowered their target price on Waystar from $37.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings raised Waystar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Finally, KeyCorp reiterated an “overweight” rating on shares of Waystar in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Waystar currently has a consensus rating of “Moderate Buy” and an average target price of $34.67.

Waystar Stock Down 1.7%

Shares of Waystar stock traded down $0.44 on Friday, reaching $26.04. The stock had a trading volume of 420,852 shares, compared to its average volume of 2,574,489. The company has a 50 day moving average price of $24.93 and a 200 day moving average price of $22.80. 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 1 year low of $17.26 and a 1 year high of $40.35. The stock has a market capitalization of $4.99 billion, a P/E ratio of 37.19, a P/E/G ratio of 1.00 and a beta of 0.18.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The firm had revenue of $319.67 million during the quarter, compared to analyst estimates of $316.21 million. Waystar had a net margin of 11.18% and a return on equity of 7.03%. Waystar’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. As a group, equities research analysts forecast that Waystar Holding Corp. will post 1.47 EPS for the current year.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software for managing healthcare payments and revenue cycle operations. Its platform connects healthcare providers, payers and patients to help streamline administrative and financial workflows across the healthcare system.

The company’s products and services include eligibility and benefits verification, claims management and submission, prior authorization, payment processing, patient billing, denial management and revenue cycle analytics.