Waystar Holding Corp. (NASDAQ:WAY) Shares Sold by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C reduced its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 33.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,295,260 shares of the company's stock after selling 1,656,744 shares during the quarter. Waystar makes up 2.3% of Deerfield Management Company L.P. Series C's portfolio, making the stock its 10th largest holding. Deerfield Management Company L.P. Series C owned approximately 1.91% of Waystar worth $120,936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in Waystar in the 4th quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Waystar during the 4th quarter worth approximately $48,000. RiverPark Advisors LLC raised its stake in shares of Waystar by 25.5% during the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after buying an additional 710 shares during the last quarter. Pictet Asset Management Holding SA acquired a new position in Waystar in the fourth quarter valued at approximately $237,000. Finally, Dakota Wealth Management bought a new position in Waystar in the fourth quarter valued at approximately $264,000.

Insider Transactions at Waystar

In other news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the transaction, the insider now directly owns 29,692,286 shares of the company's stock, valued at approximately $1,187,691,440. This trade represents a 20.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction that occurred on 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 owns 438,044 shares of the company's stock, valued at approximately $15,927,279.84. The trade was a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,411,461 shares of company stock worth $528,743,995.

Waystar Stock Performance

WAY traded down $0.48 during trading hours on Friday, reaching $40.01. The company's stock had a trading volume of 1,379,912 shares, compared to its average volume of 1,391,778. Waystar Holding Corp. has a 52 week low of $20.26 and a 52 week high of $48.11. The firm has a market cap of $6.92 billion and a PE ratio of 444.56. The company's 50-day moving average is $37.57 and its 200-day moving average is $36.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55.

Waystar (NASDAQ:WAY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

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

About Waystar

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