Occudo Quantitative Strategies LP Has $3.22 Million Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Occudo Quantitative Strategies LP raised its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 381.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,860 shares of the company's stock after purchasing an additional 69,611 shares during the quarter. Waystar accounts for approximately 0.6% of Occudo Quantitative Strategies LP's portfolio, making the stock its 27th largest holding. Occudo Quantitative Strategies LP owned about 0.05% of Waystar worth $3,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC bought a new stake in shares of Waystar in the 4th quarter valued at approximately $25,000. RiverPark Advisors LLC increased its stake 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 purchasing an additional 710 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 worth $901,000 after purchasing an additional 960 shares during the period. Russell Investments Group Ltd. raised 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 worth $1,985,000 after purchasing an additional 964 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Waystar in the 4th quarter worth about $48,000.

Waystar Price Performance

WAY stock traded up $0.09 on Friday, hitting $39.34. 3,356,841 shares of the company's stock traded hands, compared to its average volume of 1,429,397. The stock has a market cap of $6.81 billion and a price-to-earnings ratio of 437.11. Waystar Holding Corp. has a 1-year low of $20.26 and a 1-year high of $48.11. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $37.59 and a 200-day moving average of $36.80.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly 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 company had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the completion of the sale, the chief marketing officer now directly owns 43,478 shares of the company's stock, valued at approximately $1,832,597.70. This represents a 7.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the transaction, the insider now directly owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. This trade represents a 20.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,470,151 shares of company stock valued at $531,042,240. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WAY. Jefferies Financial Group started coverage on Waystar in a report on Tuesday, February 11th. They issued a "buy" rating and a $51.00 price target on the stock. Barclays lowered their target price on Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. 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. Canaccord Genuity Group lowered their price target on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial set a $50.00 price objective on shares of Waystar and gave the company a "buy" rating in a research note on Wednesday, May 7th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $40.50.

Waystar Company Profile

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