Cerity Partners LLC Boosts Stock Position in Waystar Holding Corp. (NASDAQ:WAY)

Cerity Partners LLC grew its position in Waystar Holding Corp. (NASDAQ:WAY) by 89.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,844 shares of the company’s stock after purchasing an additional 41,565 shares during the period. Cerity Partners LLC’s holdings in Waystar were worth $3,282,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of WAY. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Waystar during the fourth quarter worth $48,000. Gen Wealth Partners Inc acquired a new stake in Waystar during the 4th quarter worth about $92,000. Amalgamated Bank grew its position in Waystar by 84.1% during the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock worth $101,000 after purchasing an additional 1,241 shares during the period. KBC Group NV purchased a new position in shares of Waystar during the 1st quarter valued at about $109,000. Finally, RiverPark Advisors LLC lifted its holdings in shares of Waystar by 25.5% in the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock valued at $128,000 after buying an additional 710 shares during the period.

Insider Buying and Selling at Waystar

In related news, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the company’s 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 sale, the insider owned 25,580,929 shares of the company’s stock, valued at approximately $956,470,935.31. This represents a 13.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $39.16, for a total transaction of $379,930.32. Following the completion of the transaction, the insider directly owned 490,870 shares in the company, valued at $19,222,469.20. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,684,024 shares of company stock valued at $325,377,374. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Mizuho started coverage on Waystar in a research report on Monday, June 30th. They issued an “outperform” rating and a $48.00 price objective on the stock. TD Cowen upgraded shares of Waystar to a “strong-buy” rating in a research note on Thursday, June 5th. Canaccord Genuity Group lowered their price target on shares of Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Barclays cut their price objective on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Truist Financial upped their price objective on shares of Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday. Twelve investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $42.31.

Waystar Stock Down 1.0%

Shares of WAY opened at $36.70 on Friday. The stock has a 50 day moving average price of $38.96 and a 200 day moving average price of $38.90. Waystar Holding Corp. has a one year low of $20.74 and a one year high of $48.11. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.12 and a current ratio of 3.12. The stock has a market capitalization of $6.39 billion and a price-to-earnings ratio of 407.82.

Waystar (NASDAQ:WAY) last announced its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $256.44 million for the quarter, compared to analysts’ expectations of $248.47 million. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Waystar Company Profile

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