Schonfeld Strategic Advisors LLC Makes New Investment in Waystar Holding Corp. (NASDAQ:WAY)

Schonfeld Strategic Advisors LLC acquired a new stake in Waystar Holding Corp. (NASDAQ:WAY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,700 shares of the company’s stock, valued at approximately $503,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Waystar during the 4th quarter valued at about $119,387,000. Fuller & Thaler Asset Management Inc. acquired a new position in Waystar during the fourth quarter worth approximately $56,804,000. Vanguard Group Inc. raised its stake in Waystar by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock worth $183,182,000 after purchasing an additional 1,054,180 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Waystar during the 4th quarter valued at $27,987,000. Finally, Burkehill Global Management LP acquired a new stake in shares of Waystar during the 4th quarter worth $23,855,000.

Waystar Trading Down 1.2 %

NASDAQ WAY opened at $40.01 on Friday. The company’s fifty day moving average price is $37.57 and its two-hundred day moving average price is $36.53. The company has a market capitalization of $6.92 billion and a price-to-earnings ratio of 444.56. Waystar Holding Corp. has a 12 month low of $20.26 and a 12 month high of $48.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Waystar

In other Waystar news, insider T. Craig Bridge sold 182,914 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $42.15, for a total value of $7,709,825.10. Following the transaction, the insider now owns 519,658 shares of the company’s stock, valued at $21,903,584.70. This trade represents a 26.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the transaction, the insider now directly owns 29,692,286 shares of the company’s stock, valued at $1,187,691,440. This trade represents a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,411,461 shares of company stock valued at $528,743,995.

Analysts Set New Price Targets

WAY has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on Waystar in a report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price on the stock. Canaccord Genuity Group dropped their target price on shares of Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Barclays reduced their price target on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group increased their price objective on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Truist Financial set a $50.00 target price on shares of Waystar and gave the company a “buy” rating in a report on Wednesday. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $40.50.

About Waystar

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