Peregrine Capital Management LLC Sells 21,677 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Peregrine Capital Management LLC reduced its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 290,118 shares of the company's stock after selling 21,677 shares during the period. 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 and other institutional investors have also recently bought and sold shares of WAY. Global Retirement Partners LLC acquired a new position in shares of Waystar during the 4th quarter worth about $25,000. RiverPark Advisors LLC boosted its stake in Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after acquiring an additional 710 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 purchasing an additional 960 shares during the period. Russell Investments Group Ltd. increased its stake in Waystar by 1.8% in the fourth quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company's stock valued at $1,985,000 after purchasing an additional 964 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after purchasing an additional 1,241 shares during the period.

Insider Activity at Waystar

In other news, major shareholder Canada Pension Plan Investment sold 616,704 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $37.39, for a total transaction of $23,058,562.56. Following the transaction, the insider directly owned 24,964,225 shares in the company, valued at $933,412,372.75. The trade was a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul G. Moskowitz sold 451,837 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $37.39, for a total transaction of $16,894,185.43. Following the completion of the sale, the director owned 18,055,049 shares of the company's stock, valued at $675,078,282.11. This trade represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,684,024 shares of company stock worth $325,277,756. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WAY. Citigroup began coverage on shares of Waystar in a report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price target for the company. Mizuho began coverage on Waystar in a research note on Monday. They issued an "outperform" rating and a $48.00 target price for the company. Canaccord Genuity Group dropped their price target on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Truist Financial set a $50.00 price objective on Waystar and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Barclays lowered their target price on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. 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 data from MarketBeat.com, Waystar presently has an average rating of "Buy" and an average target price of $42.23.

Waystar Stock Up 1.7%

WAY stock traded up $0.65 during midday trading on Thursday, hitting $39.32. The company's stock had a trading volume of 523,549 shares, compared to its average volume of 1,395,533. The company's fifty day moving average price is $39.21 and its 200 day moving average price is $38.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.12 and a quick ratio of 3.12. Waystar Holding Corp. has a twelve month low of $20.26 and a twelve month high of $48.11. The stock has a market capitalization of $6.80 billion and a P/E ratio of 436.88.

Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) 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 business had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. The company's quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

About Waystar

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