State of New Jersey Common Pension Fund D Increases Stock Holdings in Waystar Holding Corp. $WAY

State of New Jersey Common Pension Fund D raised its holdings in Waystar Holding Corp. (NASDAQ:WAY) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 49,305 shares of the company’s stock after acquiring an additional 3,322 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Waystar were worth $2,015,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in Waystar in the second quarter valued at approximately $33,000. State of Wyoming purchased a new stake in Waystar in the first quarter valued at approximately $54,000. Quarry LP purchased a new stake in Waystar in the first quarter valued at approximately $60,000. Amalgamated Bank raised its stake in Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock valued at $101,000 after purchasing an additional 1,241 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Waystar in the first quarter valued at approximately $109,000.

Waystar Stock Down 6.5%

Shares of Waystar stock opened at $37.06 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. Waystar Holding Corp. has a 52-week low of $28.27 and a 52-week high of $48.11. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 59.77, a P/E/G ratio of 0.72 and a beta of 0.69. The company’s 50 day moving average price is $37.82 and its 200-day moving average price is $37.86.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.03. Waystar had a net margin of 10.69% and a return on equity of 6.88%. The firm had revenue of $268.65 million for the quarter, compared to analysts’ expectations of $256.12 million. During the same quarter last year, the business earned $0.14 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. Waystar has set its FY 2025 guidance at 1.460-1.470 EPS. Equities research analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Transactions at Waystar

In other news, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $40.03, for a total value of $776,742.12. Following the transaction, the insider owned 474,826 shares in the company, valued at approximately $19,007,284.78. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider T. Craig Bridge sold 85,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $40.06, for a total transaction of $3,405,100.00. Following the completion of the transaction, the insider owned 583,355 shares in the company, valued at $23,369,201.30. This represents a 12.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 4,546,249 shares of company stock valued at $177,987,193. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WAY has been the topic of a number of recent analyst reports. Canaccord Genuity Group set a $54.00 target price on shares of Waystar in a research note on Thursday. Citigroup began coverage on shares of Waystar in a research report on Thursday, September 18th. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Waystar in a research report on Wednesday, October 8th. Barclays began coverage on shares of Waystar in a research report on Tuesday, October 14th. They set an “overweight” rating and a $50.00 price target on the stock. Finally, Mizuho increased their price target on shares of Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $46.14.

Waystar Profile

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