New York State Common Retirement Fund Trims Holdings in Waystar Holding Corp. (NASDAQ:WAY)

New York State Common Retirement Fund cut its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 370,047 shares of the company's stock after selling 11,408 shares during the period. New York State Common Retirement Fund owned about 0.21% of Waystar worth $13,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Waystar in the 4th quarter valued at about $119,387,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Waystar during the 4th quarter valued at about $56,804,000. Farallon Capital Management LLC purchased a new stake in Waystar during the fourth quarter valued at approximately $49,251,000. Vanguard Group Inc. lifted its position in Waystar by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company's stock valued at $183,182,000 after purchasing an additional 1,054,180 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Waystar by 263.2% in the 4th quarter. Bank of America Corp DE now owns 1,104,189 shares of the company's stock worth $40,524,000 after buying an additional 800,183 shares during the last quarter.

Waystar Price Performance

WAY traded up $0.27 during midday trading on Monday, reaching $36.97. 1,428,857 shares of the company's stock were exchanged, compared to its average volume of 1,419,257. Waystar Holding Corp. has a one year low of $20.74 and a one year high of $48.11. The business has a 50-day simple moving average of $38.96 and a two-hundred day simple moving average of $38.93. The firm has a market capitalization of $6.44 billion and a price-to-earnings ratio of 410.82. 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 earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. Waystar had a return on equity of 3.10% and a net margin of 2.67%. The company had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. The company'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 year.

Insider Buying and Selling at Waystar

In other news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction dated Thursday, July 10th. The shares were 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 of the company's stock, valued at $16,483,595.72. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $1,785,479.42. Following the sale, the chief executive officer owned 764,131 shares of the company's stock, valued at $29,235,652.06. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,684,024 shares of company stock worth $325,377,374 in the last 90 days. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WAY shares. TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Mizuho assumed coverage on shares of Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective for the company. Truist Financial boosted their price objective on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday. Citigroup assumed coverage on shares of Waystar in a report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price objective on the stock. Finally, Canaccord Genuity Group reduced their target price 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. 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 MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $42.31.

About Waystar

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