Brevan Howard Capital Management LP Takes Position in Waystar Holding Corp. (NASDAQ:WAY)

Brevan Howard Capital Management LP purchased a new stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 17,093 shares of the company's stock, valued at approximately $627,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Waystar by 701.7% in the 3rd quarter. Barclays PLC now owns 64,934 shares of the company's stock valued at $1,811,000 after acquiring an additional 56,834 shares during the period. Raymond James Financial Inc. bought a new position in shares of Waystar in the 4th quarter valued at about $1,504,000. Perpetual Ltd bought a new position in shares of Waystar in the 4th quarter valued at about $558,000. M&T Bank Corp grew its position in shares of Waystar by 16.7% in the 4th quarter. M&T Bank Corp now owns 74,390 shares of the company's stock valued at $2,730,000 after acquiring an additional 10,644 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Waystar by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company's stock valued at $13,862,000 after acquiring an additional 11,117 shares during the period.

Waystar Stock Performance

NASDAQ WAY traded up $0.03 during trading on Wednesday, reaching $39.14. The company's stock had a trading volume of 1,059,632 shares, compared to its average volume of 1,393,997. The firm has a 50 day moving average price of $37.47 and a 200 day moving average price of $36.70. The firm has a market capitalization of $6.77 billion and a price-to-earnings ratio of 434.89. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar Holding Corp. has a 12 month low of $20.26 and a 12 month high of $48.11.

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

Insiders Place Their Bets

In other news, CTO Christopher L. Schremser sold 8,623 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $40.17, for a total value of $346,385.91. Following the sale, the chief technology officer now directly owns 438,044 shares of the company's stock, valued at approximately $17,596,227.48. This represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the completion of the sale, the insider now directly owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. This represents a 20.20% 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 valued at $529,090,381 in the last ninety days.

Analyst Ratings Changes

WAY has been the subject of several research analyst reports. Truist Financial set a $50.00 target price on shares of Waystar and gave the stock a "buy" rating in a report on Wednesday, May 7th. Canaccord Genuity Group reduced their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Jefferies Financial Group initiated coverage on shares of Waystar in a report on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price for the company. Barclays reduced their target price on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $40.50.

About Waystar

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