Waystar Holding Corp. (NASDAQ:WAY) Major Shareholder Sells $153,723,638.23 in Stock

Waystar Holding Corp. (NASDAQ:WAY) major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $37.39, for a total transaction of $153,723,638.23. Following the completion of the transaction, the insider now owns 25,580,929 shares in the company, valued at approximately $956,470,935.31. This trade represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Canada Pension Plan Investment also recently made the following trade(s):

• On Tuesday, May 20th, Canada Pension Plan Investment sold 616,704 shares of Waystar stock. The stock was sold at an average price of $37.39, for a total value of $23,058,562.56.
• On Monday, February 24th, Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00.

Waystar Trading Down 0.9%

WAY opened at $39.30 on Thursday. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The company has a market cap of $6.80 billion and a price-to-earnings ratio of 436.67. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The firm has a 50 day simple moving average of $37.84 and a 200 day simple moving average of $37.10.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WAY shares. The Goldman Sachs Group raised their target price on Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Jefferies Financial Group initiated coverage on shares of Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective for the company. Truist Financial set a $50.00 target price on shares of Waystar and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Canaccord Genuity Group decreased their price target on shares of Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Barclays lowered their price target on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $40.50.

Hedge Funds Weigh In On Waystar

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in Waystar by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company’s stock worth $549,000 after acquiring an additional 304 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Waystar in the fourth quarter valued at approximately $25,000. RiverPark Advisors LLC raised its holdings in Waystar by 25.5% in the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock worth $128,000 after purchasing an additional 710 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Waystar by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company’s stock valued at $901,000 after buying an additional 960 shares during the period. Finally, Legato Capital Management LLC increased its position in shares of Waystar by 8.4% in the 1st quarter. Legato Capital Management LLC now owns 12,398 shares of the company’s stock valued at $463,000 after buying an additional 960 shares in the last quarter.

Waystar Company Profile

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