Waystar Holding Corp. (NASDAQ:WAY) Holdings Lowered by Jennison Associates LLC

Jennison Associates LLC trimmed its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 26.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 573,775 shares of the company's stock after selling 207,933 shares during the quarter. Jennison Associates LLC owned about 0.33% of Waystar worth $21,436,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WAY. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Waystar in the 4th quarter worth approximately $48,000. Gen Wealth Partners Inc acquired a new position in Waystar in the 4th quarter valued at approximately $92,000. Amalgamated Bank grew its position in Waystar by 84.1% during the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after acquiring an additional 1,241 shares during the last quarter. KBC Group NV acquired a new stake in shares of Waystar in the 1st quarter valued at $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 worth $128,000 after buying an additional 710 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WAY shares. Barclays cut their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Mizuho began coverage on shares of Waystar in a research report on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price for the company. Citigroup initiated coverage on shares of Waystar in a research report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price objective on the stock. TD Cowen raised shares of Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Canaccord Genuity Group reduced their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. 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 company has a consensus rating of "Buy" and a consensus price target of $42.31.

Waystar Stock Up 2.2%

WAY stock traded up $0.80 during midday trading on Thursday, hitting $37.76. The company's stock had a trading volume of 1,000,148 shares, compared to its average volume of 1,848,821. The firm's 50-day moving average is $38.79 and its 200-day moving average is $38.90. The company has a market cap of $6.58 billion and a PE ratio of 420.68. 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 12 month low of $20.74 and a 12 month high of $48.11.

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

Insiders Place Their Bets

In other news, Director Paul G. Moskowitz sold 3,012,253 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $37.39, for a total value of $112,628,139.67. Following the sale, the director directly owned 18,742,283 shares in the company, valued at $700,773,961.37. This represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $39.16, for a total transaction of $379,930.32. Following the transaction, the insider directly owned 490,870 shares in the company, valued at approximately $19,222,469.20. This represents a 1.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,778,726 shares of company stock worth $328,889,968. 4.10% of the stock is currently owned by insiders.

Waystar Profile

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