Smith Group Asset Management LLC Makes New $480,000 Investment in Waystar Holding Corp. (NASDAQ:WAY)

Smith Group Asset Management LLC acquired a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,858 shares of the company's stock, valued at approximately $480,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Global Retirement Partners LLC purchased a new position in Waystar during the fourth quarter valued at $25,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Waystar in the fourth quarter worth about $48,000. Gen Wealth Partners Inc purchased a new position in shares of Waystar during the 4th quarter valued at about $92,000. Amalgamated Bank grew its stake in shares of Waystar by 84.1% during the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after acquiring an additional 1,241 shares during the period. Finally, KBC Group NV purchased a new stake in Waystar in the 1st quarter worth approximately $109,000.

Waystar Price Performance

Shares of WAY stock traded up $0.65 during trading hours on Friday, hitting $39.32. The stock had a trading volume of 523,549 shares, compared to its average volume of 1,398,875. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.12 and a quick ratio of 3.12. The stock has a market capitalization of $6.80 billion and a price-to-earnings ratio of 436.88. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $48.11. The stock's 50-day moving average price is $39.29 and its two-hundred day moving average price is $38.84.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The business had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. Waystar had a return on equity of 3.10% and a net margin of 2.67%. The company's revenue was up 14.1% on a year-over-year basis. Equities analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Buying and Selling

In related news, CEO Matthew J. Hawkins sold 140,164 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $39.03, for a total transaction of $5,470,600.92. Following the sale, the chief executive officer owned 764,131 shares of the company's stock, valued at $29,824,032.93. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $40.22, for a total transaction of $390,214.44. Following the completion of the sale, the insider owned 490,870 shares in the company, valued at approximately $19,742,791.40. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,684,024 shares of company stock valued at $325,277,756 in the last three months. Corporate insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WAY shares. TD Cowen raised shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Mizuho began coverage on shares of Waystar in a research note on Monday. They set an "outperform" rating and a $48.00 target price on the stock. Barclays dropped their target price on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citigroup started coverage on Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target on the stock. Finally, Truist Financial set a $50.00 price objective on Waystar and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Twelve equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $42.23.

Waystar Company Profile

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