Arizona State Retirement System Has $737,000 Position in Waystar Holding Corp. (NASDAQ:WAY)

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

A number of other large investors also recently modified their holdings of WAY. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Waystar during the 4th quarter worth $48,000. Gen Wealth Partners Inc acquired a new position in shares of Waystar in the fourth quarter worth about $92,000. Amalgamated Bank boosted its stake in Waystar by 84.1% in the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after purchasing an additional 1,241 shares during the period. KBC Group NV purchased a new position in Waystar during the 1st quarter worth approximately $109,000. Finally, RiverPark Advisors LLC raised its stake in Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock valued at $128,000 after purchasing an additional 710 shares during the period.

Waystar Stock Up 0.4%

WAY stock traded up $0.13 during midday trading on Thursday, hitting $37.09. The company's stock had a trading volume of 1,541,008 shares, compared to its average volume of 1,852,434. The company's fifty day moving average price is $38.79 and its 200 day moving average price is $38.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.12 and a quick ratio of 3.12. Waystar Holding Corp. has a twelve month low of $20.74 and a twelve month high of $48.11. The stock has a market capitalization of $6.46 billion and a P/E ratio of 412.43.

Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The business had revenue of $256.44 million during the quarter, compared to analysts' expectations of $248.47 million. Waystar's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Buying and Selling

In other news, CEO Matthew J. Hawkins sold 197,847 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $38.53, for a total transaction of $7,623,044.91. Following the completion of the sale, the chief executive officer owned 764,131 shares of the company's stock, valued at approximately $29,441,967.43. This represents a 20.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of Waystar stock in a transaction on Friday, May 16th. The shares were sold at an average price of $37.39, for a total value of $153,723,638.23. Following the completion of the transaction, the insider owned 25,580,929 shares in the company, valued at approximately $956,470,935.31. The trade was a 13.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,778,726 shares of company stock valued at $328,889,968 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WAY. Mizuho began coverage on shares of Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective on the stock. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Canaccord Genuity Group dropped their price target on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Barclays reduced their price objective 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, Citigroup started coverage on Waystar in a research report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 target price on the stock. Twelve investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $42.31.

Waystar Company Profile

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