Arizona State Retirement System Grows Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Arizona State Retirement System boosted its position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 63.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,728 shares of the company's stock after acquiring an additional 7,645 shares during the period. Arizona State Retirement System's holdings in Waystar were worth $737,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Waystar by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company's stock valued at $183,182,000 after acquiring an additional 1,054,180 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in Waystar by 2.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company's stock valued at $127,798,000 after purchasing an additional 79,944 shares during the last quarter. Norges Bank bought a new stake in Waystar during the fourth quarter valued at approximately $119,387,000. Fuller & Thaler Asset Management Inc. bought a new stake in Waystar during the fourth quarter valued at approximately $56,804,000. Finally, American Century Companies Inc. lifted its position in Waystar by 0.4% during the fourth quarter. American Century Companies Inc. now owns 1,476,236 shares of the company's stock valued at $54,178,000 after purchasing an additional 6,409 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have issued reports on WAY. Canaccord Genuity Group dropped their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Barclays dropped their target price on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Mizuho started coverage on shares of Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price for the company. Finally, Truist Financial boosted their price objective on shares of Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Twelve equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $42.31.

Waystar Trading Down 3.1%

Shares of NASDAQ WAY traded down $1.15 during mid-day trading on Friday, hitting $35.83. The stock had a trading volume of 1,417,167 shares, compared to its average volume of 1,546,063. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.12 and a current ratio of 3.12. Waystar Holding Corp. has a 1 year low of $20.74 and a 1 year high of $48.11. The business has a 50 day moving average price of $38.68 and a two-hundred day moving average price of $38.89. The firm has a market cap of $6.24 billion and a P/E ratio of 398.16.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The firm's revenue was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Waystar

In other Waystar news, insider T. Craig Bridge sold 85,000 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the transaction, the insider directly owned 682,843 shares of the company's stock, valued at approximately $25,326,646.87. The trade was a 11.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul G. Moskowitz sold 3,012,253 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $37.39, for a total transaction of $112,628,139.67. Following the transaction, the director directly owned 18,742,283 shares in the company, valued at approximately $700,773,961.37. The trade was a 13.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,778,726 shares of company stock worth $328,889,968. 4.10% of the stock is owned by corporate insiders.

About Waystar

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