Nicholas Investment Partners LP Purchases New Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Nicholas Investment Partners LP bought a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 82,854 shares of the company's stock, valued at approximately $3,041,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in shares of Waystar during the 4th quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC bought a new stake in Waystar during the 4th quarter valued at $48,000. Gen Wealth Partners Inc bought a new stake in Waystar during the 4th quarter valued at $92,000. RiverPark Advisors LLC raised its position in Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock valued at $128,000 after purchasing an additional 710 shares in the last quarter. Finally, Pictet Asset Management Holding SA bought a new stake in Waystar during the 4th quarter valued at $237,000.

Waystar Price Performance

NASDAQ WAY traded down $0.11 during trading hours on Monday, reaching $39.24. The company's stock had a trading volume of 873,584 shares, compared to its average volume of 1,427,237. The company's 50-day moving average is $37.64 and its two-hundred day moving average is $36.99. Waystar Holding Corp. has a 1-year low of $20.26 and a 1-year high of $48.11. The firm has a market capitalization of $6.79 billion and a price-to-earnings ratio of 436.19. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $256.44 million during the quarter, compared to analysts' expectations of $248.47 million. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Activity at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the sale, the chief marketing officer now directly owns 43,478 shares in the company, valued at $1,832,597.70. This trade represents a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Hawkins sold 46,667 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.97, for a total value of $1,818,612.99. Following the completion of the sale, the chief executive officer now owns 764,131 shares in the company, valued at approximately $29,778,185.07. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,470,151 shares of company stock worth $531,042,240. Company insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

WAY has been the subject of several recent research reports. Canaccord Genuity Group reduced their price target on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Truist Financial set a $50.00 price target on Waystar and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Jefferies Financial Group initiated coverage on Waystar in a research report on Tuesday, February 11th. They issued a "buy" rating and a $51.00 price target for the company. The Goldman Sachs Group boosted their price target on Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Barclays reduced their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $40.50.

About Waystar

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