Peregrine Capital Management LLC Reduces Stock Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Peregrine Capital Management LLC decreased its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 7.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 290,118 shares of the company's stock after selling 21,677 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.17% of Waystar worth $10,839,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in shares of Waystar in the 4th quarter valued at about $25,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Waystar in the fourth quarter valued at approximately $48,000. Gen Wealth Partners Inc bought a new position in shares of Waystar during the 4th quarter worth approximately $92,000. Amalgamated Bank increased its holdings in shares of Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after purchasing an additional 1,241 shares during the last quarter. Finally, KBC Group NV acquired a new stake in Waystar during the first quarter worth approximately $109,000.

Analyst Ratings Changes

WAY has been the subject of several recent research reports. Citigroup began coverage on Waystar in a research note on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price target for the company. Barclays decreased their price target on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group dropped their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Mizuho began coverage on Waystar in a research note on Monday. They issued an "outperform" rating and a $48.00 price objective for the company. Finally, TD Cowen raised shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Fourteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Waystar currently has an average rating of "Buy" and a consensus price target of $41.36.

Insider Activity at Waystar

In related news, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the firm's 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 transaction, the insider directly owned 25,580,929 shares of the company's stock, valued at approximately $956,470,935.31. This trade represents a 13.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $39.16, for a total transaction of $379,930.32. Following the sale, the insider owned 490,870 shares of the company's stock, valued at approximately $19,222,469.20. The trade was 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 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Waystar Price Performance

WAY stock traded down $0.77 during mid-day trading on Wednesday, reaching $38.64. 902,187 shares of the company traded hands, compared to its average volume of 1,917,066. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week high of $48.11. 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 company has a market capitalization of $6.69 billion and a P/E ratio of 429.38. The company has a fifty day moving average price of $39.17 and a 200-day moving average price of $38.79.

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. The business had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. Waystar had a net margin of 2.67% and a return on equity of 3.10%. Waystar's revenue was up 14.1% on a year-over-year basis. As a group, analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Waystar Profile

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