Perigon Wealth Management LLC Takes Position in Waystar Holding Corp. $WAY

Perigon Wealth Management LLC bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 42,770 shares of the company’s stock, valued at approximately $878,000.

Several other hedge funds have also added to or reduced their stakes in WAY. Root Financial Partners LLC boosted its stake in Waystar by 6,475.0% in the 1st quarter. Root Financial Partners LLC now owns 1,052 shares of the company’s stock valued at $25,000 after purchasing an additional 1,036 shares during the period. Essential Partners LLC increased its position in Waystar by 1,432.7% during the 1st quarter. Essential Partners LLC now owns 1,548 shares of the company’s stock worth $37,000 after buying an additional 1,447 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Waystar by 6,005.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company’s stock worth $38,000 after buying an additional 1,141 shares in the last quarter. Danske Bank A S bought a new stake in shares of Waystar in the fourth quarter valued at about $52,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Waystar by 3,219.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after acquiring an additional 1,352 shares in the last quarter.

Wall Street Analysts Forecast Growth

WAY has been the topic of a number of recent research reports. Barclays raised their price target on shares of Waystar from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. KeyCorp restated an “overweight” rating on shares of Waystar in a research report on Friday, July 31st. Wolfe Research raised shares of Waystar to an “outperform” rating in a report on Thursday, August 13th. Weiss Ratings downgraded shares of Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. cut their price target on Waystar from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.00.

Waystar Stock Down 1.5%

Shares of NASDAQ WAY opened at $24.32 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85. Waystar Holding Corp. has a 52 week low of $17.26 and a 52 week high of $41.47. The stock has a market capitalization of $4.66 billion, a P/E ratio of 34.74, a PEG ratio of 0.96 and a beta of 0.06. The stock’s fifty day moving average is $21.83 and its 200 day moving average is $22.68.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $319.67 million during the quarter, compared to analysts’ expectations of $316.21 million. Waystar had a net margin of 11.18% and a return on equity of 7.03%. Waystar’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. Sell-side analysts forecast that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Matthew J. Hawkins sold 60,038 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $25.01, for a total value of $1,501,550.38. Following the completion of the transaction, the chief executive officer directly owned 1,835,081 shares in the company, valued at approximately $45,895,375.81. The trade was a 3.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.50% of the stock is currently owned by corporate insiders.

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.