Legal & General Group Plc Sells 34,702 Shares of Waystar Holding Corp. $WAY

Legal & General Group Plc cut its stake in Waystar Holding Corp. (NASDAQ:WAY) by 11.4% during the fourth quarter, HoldingsChannel reports. The firm owned 270,414 shares of the company’s stock after selling 34,702 shares during the period. Legal & General Group Plc’s holdings in Waystar were worth $8,856,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Waystar by 152.6% in the third quarter. JPMorgan Chase & Co. now owns 2,489,572 shares of the company’s stock worth $94,405,000 after purchasing an additional 1,504,026 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Waystar by 35.5% in the third quarter. Vanguard Group Inc. now owns 12,289,810 shares of the company’s stock worth $466,030,000 after purchasing an additional 3,219,586 shares during the last quarter. Monashee Investment Management LLC bought a new position in shares of Waystar in the third quarter worth about $5,688,000. Envestnet Asset Management Inc. grew its holdings in shares of Waystar by 252.7% in the third quarter. Envestnet Asset Management Inc. now owns 66,873 shares of the company’s stock worth $2,536,000 after purchasing an additional 47,912 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Waystar by 0.5% in the third quarter. William Blair Investment Management LLC now owns 5,263,187 shares of the company’s stock worth $199,580,000 after purchasing an additional 23,822 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WAY. Evercore set a $27.00 target price on shares of Waystar in a report on Wednesday, February 18th. Citigroup dropped their target price on shares of Waystar from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price on shares of Waystar in a report on Thursday, April 30th. Wells Fargo & Company dropped their target price on shares of Waystar from $41.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Finally, Morgan Stanley began coverage on shares of Waystar in a report on Monday, March 30th. They set an “equal weight” rating and a $28.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $35.62.

Waystar Stock Up 3.6%

Shares of Waystar stock opened at $20.22 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.76. Waystar Holding Corp. has a 1 year low of $17.89 and a 1 year high of $41.49. The firm’s 50-day moving average is $22.07 and its two-hundred day moving average is $26.82. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 0.77 and a beta of 0.10.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $313.87 million during the quarter, compared to analyst estimates of $311.74 million. Waystar had a net margin of 10.90% and a return on equity of 6.99%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. Waystar has set its FY 2026 guidance at 1.590-1.680 EPS. As a group, research analysts expect that Waystar Holding Corp. will post 1.45 earnings per share for the current fiscal year.

Waystar Company 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.