Waystar Holding Corp. (NASDAQ:WAY) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 89.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,844 shares of the company's stock after acquiring an additional 41,565 shares during the quarter. Cerity Partners LLC owned about 0.05% of Waystar worth $3,282,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC acquired a new position in Waystar in the 4th quarter worth approximately $48,000. Gen Wealth Partners Inc acquired a new stake in shares of Waystar during the 4th quarter worth approximately $92,000. Amalgamated Bank grew its stake in shares of Waystar by 84.1% during 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 acquired a new stake in shares of Waystar during the 1st quarter worth approximately $109,000. Finally, RiverPark Advisors LLC grew its stake in shares of Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after purchasing an additional 710 shares during the period.

Waystar Price Performance

Shares of WAY traded down $0.40 during trading hours on Tuesday, reaching $36.57. 1,295,799 shares of the company traded hands, compared to its average volume of 1,422,454. The stock has a fifty day simple moving average of $38.96 and a 200 day simple moving average of $38.93. Waystar Holding Corp. has a fifty-two week low of $20.74 and a fifty-two week high of $48.11. The stock has a market capitalization of $6.37 billion and a PE ratio of 406.38. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.39.

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

Analysts Set New Price Targets

WAY has been the subject of a number of recent research reports. TD Cowen raised Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Truist Financial raised their target price on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Barclays cut 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. Mizuho started coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective for the company. Finally, Canaccord Genuity Group cut 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 research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $42.31.

Insiders Place Their Bets

In other news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $37.63, for a total value of $324,483.49. Following the completion of the transaction, the chief technology officer owned 438,044 shares in the company, valued at approximately $16,483,595.72. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $37.10, for a total value of $359,944.20. Following the completion of the sale, the insider directly owned 490,870 shares in the company, valued at approximately $18,211,277. This trade represents a 1.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,778,726 shares of company stock worth $328,889,968 in the last quarter. Company insiders own 4.10% of the company's stock.

Waystar Profile

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