Rhumbline Advisers Grows Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Rhumbline Advisers increased its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY) by 88.1% during the first quarter, Holdings Channel.com reports. The fund owned 113,177 shares of the company’s stock after buying an additional 53,021 shares during the period. Rhumbline Advisers’ holdings in Waystar were worth $4,228,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in Waystar in the 4th quarter worth $119,387,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Waystar in the fourth quarter valued at about $56,804,000. Farallon Capital Management LLC acquired a new stake in shares of Waystar in the fourth quarter valued at about $49,251,000. Vanguard Group Inc. grew its position in shares of Waystar by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock valued at $183,182,000 after purchasing an additional 1,054,180 shares during the period. Finally, Bank of America Corp DE lifted its stake in Waystar by 263.2% in the 4th quarter. Bank of America Corp DE now owns 1,104,189 shares of the company’s stock valued at $40,524,000 after buying an additional 800,183 shares in the last quarter.

Insider Activity at Waystar

In other Waystar news, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $37.39, for a total transaction of $153,723,638.23. Following the completion of the transaction, the insider now owns 25,580,929 shares of the company’s stock, valued at $956,470,935.31. This trade represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $40.58, for a total transaction of $349,921.34. Following the transaction, the chief technology officer now directly owns 438,044 shares of the company’s stock, valued at approximately $17,775,825.52. This trade represents a 1.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,664,620 shares of company stock worth $324,520,903. Insiders own 4.10% of the company’s stock.

Waystar Stock Down 1.6%

NASDAQ WAY opened at $38.93 on Friday. 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 $6.74 billion and a PE ratio of 432.56. The business’s fifty day simple moving average is $38.61 and its 200-day simple moving average is $38.14. 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) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $256.44 million during the quarter, compared to analysts’ expectations of $248.47 million. Waystar’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen raised shares of Waystar to a “strong-buy” rating in a research note on Thursday, June 5th. Canaccord Genuity Group dropped 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. Barclays dropped 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. Truist Financial set a $50.00 target price on shares of Waystar and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group lifted their target price on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Twelve investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Waystar has a consensus rating of “Buy” and a consensus price target 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.