Jennison Associates LLC lowered its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 26.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 573,775 shares of the company's stock after selling 207,933 shares during the quarter. Jennison Associates LLC owned approximately 0.33% of Waystar worth $21,436,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC purchased a new position in shares of Waystar in the 1st quarter valued at about $251,000. Victory Capital Management Inc. boosted its holdings in Waystar by 170.4% in the first quarter. Victory Capital Management Inc. now owns 178,024 shares of the company's stock valued at $6,651,000 after purchasing an additional 112,179 shares in the last quarter. Dakota Wealth Management increased its stake in Waystar by 365.6% in the first quarter. Dakota Wealth Management now owns 33,511 shares of the company's stock valued at $1,252,000 after purchasing an additional 26,313 shares during the last quarter. Arizona State Retirement System raised its holdings in Waystar by 63.3% during the first quarter. Arizona State Retirement System now owns 19,728 shares of the company's stock worth $737,000 after purchasing an additional 7,645 shares in the last quarter. Finally, Xponance Inc. purchased a new stake in shares of Waystar during the 1st quarter worth approximately $221,000.
Analyst Ratings Changes
WAY has been the topic of a number of recent analyst reports. Barclays dropped their target price on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Mizuho began coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price on the stock. Truist Financial boosted their target price on Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, July 17th. TD Cowen raised Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Citigroup initiated coverage on Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target 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. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $42.31.
Get Our Latest Analysis on WAY
Waystar Trading Up 0.1%
Shares of Waystar stock traded up $0.02 during trading hours on Thursday, reaching $36.98. 2,820,531 shares of the company's stock were exchanged, compared to its average volume of 1,510,875. The firm has a market capitalization of $6.44 billion and a price-to-earnings ratio of 410.93. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.39. Waystar Holding Corp. has a 52-week low of $20.74 and a 52-week high of $48.11. The company has a fifty day moving average of $38.75 and a 200-day moving average of $38.90.
Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The firm had revenue of $256.44 million for the quarter, compared to analyst estimates of $248.47 million. Waystar had a return on equity of 3.10% and a net margin of 2.67%. The firm's revenue was up 14.1% on a year-over-year basis. Sell-side analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.
Insider Activity at Waystar
In other news, CEO Matthew J. Hawkins sold 46,667 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $38.26, for a total transaction of $1,785,479.42. Following the completion of the sale, the chief executive officer directly owned 764,131 shares in the company, valued at $29,235,652.06. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction 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 directly owned 438,044 shares in the company, valued at $16,483,595.72. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,778,726 shares of company stock valued at $328,889,968 over the last three months. Insiders own 4.10% of the company's stock.
About Waystar
(
Free Report)
Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.
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