Rhumbline Advisers Buys 53,021 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Rhumbline Advisers boosted its stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 88.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,177 shares of the company's stock after buying an additional 53,021 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of Waystar worth $4,228,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WAY. Vanguard Group Inc. increased its position in Waystar by 26.8% during the 4th 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 period. ArrowMark Colorado Holdings LLC boosted its stake in shares of Waystar by 2.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company's stock valued at $127,798,000 after purchasing an additional 79,944 shares in the last quarter. Norges Bank bought a new position in shares of Waystar during the fourth quarter valued at approximately $119,387,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Waystar during the fourth quarter valued at approximately $56,804,000. Finally, American Century Companies Inc. boosted its stake in shares of Waystar by 0.4% during the fourth quarter. American Century Companies Inc. now owns 1,476,236 shares of the company's stock valued at $54,178,000 after purchasing an additional 6,409 shares in the last quarter.

Waystar Trading Down 1.6%

Shares of Waystar stock opened at $38.93 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11. The firm has a market capitalization of $6.74 billion and a price-to-earnings ratio of 432.56. The firm's 50 day simple moving average is $38.61 and its two-hundred day simple moving average is $38.14.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. The company had revenue of $256.44 million for the quarter, compared to analysts' expectations of $248.47 million. Waystar's revenue was up 14.1% compared to the same quarter last year. Analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Transactions at Waystar

In other Waystar news, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of Waystar stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $37.39, for a total transaction of $153,723,638.23. Following the completion of the transaction, the insider now owns 25,580,929 shares in the company, valued at approximately $956,470,935.31. This trade represents a 13.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew J. Hawkins sold 46,667 shares of the firm's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $36.36, for a total value of $1,696,812.12. Following the sale, the chief executive officer now directly owns 500,000 shares in the company, valued at approximately $18,180,000. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,664,620 shares of company stock worth $324,520,903 over the last three months. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Canaccord Genuity Group lowered their target price on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Barclays reduced their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group lifted their target price on Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Truist Financial set a $50.00 target price on Waystar and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Twelve 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 stock currently has an average rating of "Buy" and an average target price of $40.50.

Waystar Profile

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

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