New York State Common Retirement Fund Boosts Stock Position in Waystar Holding Corp. $WAY

New York State Common Retirement Fund increased its position in Waystar Holding Corp. (NASDAQ:WAY) by 32.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 515,946 shares of the company’s stock after purchasing an additional 125,199 shares during the period. New York State Common Retirement Fund owned 0.27% of Waystar worth $19,565,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new stake in Waystar during the 3rd quarter valued at $25,000. First Horizon Corp purchased a new position in Waystar in the 3rd quarter worth approximately $38,000. Nisa Investment Advisors LLC lifted its holdings in shares of Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after buying an additional 358 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Waystar by 3,219.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after purchasing an additional 1,352 shares in the last quarter. Finally, State of Wyoming increased its position in Waystar by 45.1% in the second quarter. State of Wyoming now owns 2,098 shares of the company’s stock worth $86,000 after purchasing an additional 652 shares during the last quarter.

Waystar Trading Down 0.6%

NASDAQ WAY opened at $26.56 on Monday. The firm has a 50-day moving average price of $32.33 and a 200 day moving average price of $35.28. Waystar Holding Corp. has a 52-week low of $26.20 and a 52-week high of $48.11. The stock has a market capitalization of $5.08 billion, a P/E ratio of 42.84, a P/E/G ratio of 0.33 and a beta of 0.77. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.38.

Insider Transactions at Waystar

In other news, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $37.00, for a total transaction of $125,800.00. Following the sale, the chief marketing officer owned 193,261 shares in the company, valued at $7,150,657. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Christopher L. Schremser sold 8,623 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $36.12, for a total value of $311,462.76. Following the completion of the sale, the chief technology officer directly owned 422,371 shares in the company, valued at approximately $15,256,040.52. This trade represents a 2.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,273 shares of company stock worth $2,569,997 in the last three months. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WAY shares. Mizuho increased their price target on Waystar from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Wall Street Zen lowered Waystar from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. UBS Group assumed coverage on Waystar in a research report on Monday, December 15th. They set a “buy” rating and a $41.00 price target for the company. Needham & Company LLC began coverage on Waystar in a report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 price target for the company. Finally, Zacks Research lowered shares of Waystar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $46.40.

Waystar Profile

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.