Voleon Capital Management LP Takes $810,000 Position in Waystar Holding Corp. (NASDAQ:WAY)

Voleon Capital Management LP purchased a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,082 shares of the company's stock, valued at approximately $810,000.

Other hedge funds have also bought and sold shares of the company. Soros Fund Management LLC acquired a new stake in shares of Waystar during the fourth quarter worth $9,175,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Waystar during the 4th quarter valued at about $503,000. Northern Trust Corp raised its stake in Waystar by 4.9% during the fourth quarter. Northern Trust Corp now owns 376,005 shares of the company's stock worth $13,799,000 after acquiring an additional 17,398 shares during the period. Tudor Investment Corp ET AL bought a new position in Waystar in the fourth quarter worth about $3,968,000. Finally, Lord Abbett & CO. LLC acquired a new position in Waystar in the fourth quarter valued at approximately $27,987,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial assumed coverage on Waystar in a research report on Friday, March 14th. They set a "buy" rating and a $45.00 price target on the stock. Canaccord Genuity Group lowered their price target on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday. Jefferies Financial Group began coverage on shares of Waystar in a research report on Tuesday, February 11th. They issued a "buy" rating and a $51.00 price objective on the stock. Barclays decreased their target price 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. Finally, The Goldman Sachs Group lifted their price target on Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Waystar has a consensus rating of "Buy" and a consensus price target of $40.08.

Waystar Stock Performance

Shares of WAY stock opened at $39.46 on Friday. The stock has a 50-day simple moving average of $37.79 and a 200 day simple moving average of $35.93. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting 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. The firm's quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Waystar

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $36.36, for a total transaction of $313,532.28. Following the completion of the sale, the chief technology officer now directly owns 438,044 shares of the company's stock, valued at approximately $15,927,279.84. This represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,411,461 shares of company stock valued at $528,743,995.

Waystar Profile

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

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