Teacher Retirement System of Texas Grows Position in Waystar Holding Corp. (NASDAQ:WAY)

Teacher Retirement System of Texas grew its stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 107.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,042 shares of the company's stock after purchasing an additional 20,780 shares during the quarter. Teacher Retirement System of Texas' holdings in Waystar were worth $1,496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RiverPark Advisors LLC raised its holdings in Waystar by 25.5% in the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after purchasing an additional 710 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Waystar by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company's stock valued at $901,000 after acquiring an additional 960 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Waystar by 1.8% during the fourth quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company's stock valued at $1,985,000 after acquiring an additional 964 shares in the last quarter. Amalgamated Bank boosted its position in shares of Waystar by 84.1% during the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after buying an additional 1,241 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in Waystar in the fourth quarter worth about $48,000.

Waystar Trading Down 0.6%

Shares of Waystar stock opened at $37.41 on Friday. Waystar Holding Corp. has a fifty-two week low of $20.74 and a fifty-two week high of $48.11. The firm has a market cap of $6.47 billion and a PE ratio of 415.71. The business's fifty day moving average is $39.27 and its two-hundred day moving average is $38.90. 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 issued its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $248.47 million. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WAY shares. Mizuho began coverage on Waystar in a research note on Monday, June 30th. They set an "outperform" rating and a $48.00 target price on the stock. Barclays lowered their target price on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Truist Financial set a $50.00 target price on Waystar and gave the company a "buy" rating in a research report on Wednesday, May 7th. Citigroup assumed coverage on Waystar in a report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price objective on the stock. Finally, TD Cowen upgraded Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Twelve equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $42.23.

Insider Activity at Waystar

In related news, CEO Matthew J. Hawkins sold 140,164 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was 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. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Canada Pension Plan Investment sold 616,704 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $37.39, for a total value of $23,058,562.56. Following the sale, the insider directly owned 24,964,225 shares in the company, valued at approximately $933,412,372.75. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,637,357 shares of company stock valued at $323,591,895. 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.

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