Wedmont Private Capital Makes New $1.29 Million Investment in Waystar Holding Corp. $WAY

Wedmont Private Capital acquired a new stake in Waystar Holding Corp. (NASDAQ:WAY) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 57,599 shares of the company’s stock, valued at approximately $1,292,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WAY. Kennedy Capital Management LLC raised its stake in shares of Waystar by 0.5% during the 4th quarter. Kennedy Capital Management LLC now owns 106,207 shares of the company’s stock worth $3,478,000 after buying an additional 559 shares during the period. Pacer Advisors Inc. increased its holdings in Waystar by 22.1% in the 4th quarter. Pacer Advisors Inc. now owns 3,144 shares of the company’s stock worth $103,000 after acquiring an additional 569 shares in the last quarter. State of Wyoming increased its holdings in Waystar by 45.1% in the 2nd quarter. State of Wyoming now owns 2,098 shares of the company’s stock worth $86,000 after acquiring an additional 652 shares in the last quarter. ProShare Advisors LLC raised its position in Waystar by 3.7% during the fourth quarter. ProShare Advisors LLC now owns 21,474 shares of the company’s stock worth $703,000 after acquiring an additional 764 shares during the period. Finally, Vinva Investment Management Ltd raised its position in Waystar by 9.3% during the fourth quarter. Vinva Investment Management Ltd now owns 9,202 shares of the company’s stock worth $301,000 after acquiring an additional 786 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Waystar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, September 3rd. Barclays lifted their price objective on Waystar from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Truist Financial cut their price objective on Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. BMO Capital Markets reissued an “outperform” rating on shares of Waystar in a report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $39.00 target price on shares of Waystar in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

Waystar Stock Performance

NASDAQ WAY opened at $24.24 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. The stock’s fifty day moving average is $23.75 and its two-hundred day moving average is $22.78. The firm has a market capitalization of $4.65 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 0.98 and a beta of 0.16. Waystar Holding Corp. has a fifty-two week low of $17.26 and a fifty-two week high of $41.47.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The business had revenue of $319.67 million during the quarter, compared to the consensus estimate of $316.21 million. During the same period last year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, research analysts anticipate that Waystar Holding Corp. will post 1.47 earnings per share for the current year.

Insider Activity

In related news, CEO Matthew Hawkins sold 82,500 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $25.97, for a total transaction of $2,142,525.00. Following the completion of the sale, the chief executive officer directly owned 1,804,794 shares in the company, valued at approximately $46,870,500.18. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 165,000 shares of company stock valued at $4,206,524 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

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.