Farallon Capital Management LLC Takes $49.25 Million Position in Waystar Holding Corp. (NASDAQ:WAY)

Farallon Capital Management LLC acquired a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,342,000 shares of the company's stock, valued at approximately $49,251,000. Farallon Capital Management LLC owned about 0.78% of Waystar at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WAY. Barclays PLC raised its holdings in Waystar by 701.7% during the 3rd quarter. Barclays PLC now owns 64,934 shares of the company's stock worth $1,811,000 after purchasing an additional 56,834 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Waystar during the 4th quarter worth about $1,905,000. Perpetual Ltd acquired a new position in shares of Waystar during the 4th quarter worth about $558,000. Dakota Wealth Management acquired a new position in shares of Waystar during the 4th quarter worth about $264,000. Finally, Entropy Technologies LP acquired a new position in shares of Waystar during the 4th quarter worth about $289,000.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WAY shares. Jefferies Financial Group started coverage on Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price for the company. Truist Financial set a $50.00 target price on Waystar and gave the stock a "buy" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group boosted their target price on Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Barclays decreased their target price on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Canaccord Genuity Group decreased their price objective on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $40.50.

Waystar Stock Performance

WAY traded up $0.29 during trading hours on Monday, reaching $40.30. The company's stock had a trading volume of 1,772,399 shares, compared to its average volume of 1,393,419. Waystar Holding Corp. has a 52 week low of $20.26 and a 52 week high of $48.11. The company's 50-day moving average is $37.57 and its 200-day moving average is $36.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The firm has a market cap of $6.97 billion and a PE ratio of 447.78.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. The company's revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the sale, the insider now directly owns 29,692,286 shares of the company's stock, valued at approximately $1,187,691,440. This represents a 20.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $36.36, for a total value of $1,696,812.12. Following the sale, the chief executive officer now directly owns 500,000 shares in the company, valued at approximately $18,180,000. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,420,084 shares of company stock worth $529,090,381 in the last 90 days.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.