Corient Private Wealth LP Purchases New Shares in Waystar Holding Corp. $WAY

Corient Private Wealth LP bought a new stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 59,509 shares of the company's stock, valued at approximately $1,222,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WAY. Root Financial Partners LLC lifted its stake in shares of Waystar by 6,475.0% during the 1st quarter. Root Financial Partners LLC now owns 1,052 shares of the company's stock valued at $25,000 after buying an additional 1,036 shares in the last quarter. Essential Partners LLC boosted its position in shares of Waystar by 1,432.7% during the 1st quarter. Essential Partners LLC now owns 1,548 shares of the company's stock valued at $37,000 after acquiring an additional 1,447 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Waystar by 6,005.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company's stock worth $38,000 after buying an additional 1,141 shares in the last quarter. Danske Bank A S purchased a new stake in Waystar during the fourth quarter valued at about $52,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Waystar by 3,219.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock valued at $57,000 after buying an additional 1,352 shares in the last quarter.

Insider Buying and Selling at Waystar

In other news, CEO Matthew Hawkins sold 82,500 shares of Waystar stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $25.97, for a total value of $2,142,525.00. Following the completion of the sale, the chief executive officer owned 1,804,794 shares in the company, valued at $46,870,500.18. The trade was a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 165,000 shares of company stock valued at $4,206,524. Company insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WAY. Citigroup reaffirmed a "buy" rating on shares of Waystar in a research report on Monday, July 20th. Wall Street Zen cut Waystar from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. Barclays upped their target price on Waystar from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Truist Financial decreased their target price on shares of Waystar from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. Finally, Canaccord Genuity Group boosted their target price on shares of Waystar from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, August 31st. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.14.

Waystar Trading Down 3.9%

WAY opened at $25.07 on Friday. The company has a market cap of $4.81 billion, a P/E ratio of 35.81, a PEG ratio of 1.02 and a beta of 0.16. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. The company's 50 day moving average is $23.57 and its 200-day moving average is $22.78. Waystar Holding Corp. has a 1-year low of $17.26 and a 1-year high of $41.47.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The business had revenue of $319.67 million for the quarter, compared to analyst estimates of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.Waystar's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Equities research analysts predict that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

Waystar Company Profile

Waystar NASDAQ: WAY is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company's unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar's offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.

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