Westwind Capital Acquires Shares of 415,045 Waystar Holding Corp. (NASDAQ:WAY)

Westwind Capital purchased a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 415,045 shares of the company's stock, valued at approximately $15,506,000. Waystar makes up approximately 3.9% of Westwind Capital's investment portfolio, making the stock its 12th biggest position. Westwind Capital owned about 0.24% of Waystar as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WAY. Global Retirement Partners LLC bought a new stake in shares of Waystar in the 4th quarter worth $25,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Waystar during the 4th quarter valued at $48,000. Gen Wealth Partners Inc purchased a new position in shares of Waystar in the 4th quarter worth $92,000. RiverPark Advisors LLC increased its position in Waystar by 25.5% during the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock valued at $128,000 after acquiring an additional 710 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Waystar in the first quarter valued at about $212,000.

Analyst Ratings Changes

A number of research firms have issued reports on WAY. Citigroup assumed coverage on Waystar in a research note on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target for the company. 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. Barclays decreased their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Mizuho assumed coverage on shares of Waystar in a research note on Monday. They issued an "outperform" rating and a $48.00 target price on the stock. Fourteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Waystar presently has an average rating of "Buy" and a consensus target price of $41.36.

Waystar Trading Down 3.6%

Shares of NASDAQ:WAY traded down $1.47 during trading on Tuesday, reaching $39.40. 2,100,288 shares of the company were exchanged, compared to its average volume of 1,400,321. 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 firm has a market capitalization of $6.82 billion and a PE ratio of 437.83. The business's fifty day simple moving average is $39.09 and its 200-day simple moving average is $38.78. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Waystar had a net margin of 2.67% and a return on equity of 3.10%. 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% on a year-over-year basis. On average, research analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Activity at Waystar

In other news, Director Paul G. Moskowitz sold 3,012,253 shares of Waystar stock in a transaction on Friday, May 16th. The shares were sold at an average price of $37.39, for a total transaction of $112,628,139.67. Following the completion of the sale, the director directly owned 18,742,283 shares in the company, valued at approximately $700,773,961.37. The trade was a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $39.16, for a total transaction of $379,930.32. Following the completion of the sale, the insider directly owned 490,870 shares in the company, valued at $19,222,469.20. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,684,024 shares of company stock valued at $325,277,756. Company insiders own 4.10% of the company's stock.

Waystar Company Profile

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