Modera Wealth Management LLC Acquires New Stake in Waystar Holding Corp. $WAY

Modera Wealth Management LLC bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,362 shares of the company’s stock, valued at approximately $1,276,000.

A number of other hedge funds have also modified their holdings of WAY. Root Financial Partners LLC increased its holdings in shares of 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 acquiring an additional 1,036 shares during the period. Essential Partners LLC boosted its stake 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 purchasing an additional 1,447 shares during the period. GAMMA Investing LLC boosted its stake in Waystar by 20.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,692 shares of the company’s stock worth $68,000 after purchasing an additional 465 shares during the period. Nisa Investment Advisors LLC boosted its stake in Waystar by 18.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,782 shares of the company’s stock worth $70,000 after purchasing an additional 435 shares during the period. Finally, State of Wyoming purchased a new position in Waystar during the 2nd quarter worth $74,000.

Analyst Ratings Changes

A number of research analysts have commented on the stock. BMO Capital Markets restated an “outperform” rating on shares of Waystar in a research note on Thursday, August 27th. Wolfe Research upgraded shares of Waystar to an “outperform” rating in a research note on Thursday, August 13th. Wells Fargo & Company lowered their price target on Waystar from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Citigroup restated a “buy” rating on shares of Waystar in a research report on Monday, July 20th. Finally, Weiss Ratings upgraded Waystar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.90.

Waystar Price Performance

Shares of NASDAQ WAY opened at $28.00 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a fifty day moving average price of $26.17 and a 200 day moving average price of $23.98. Waystar Holding Corp. has a 1-year low of $17.26 and a 1-year high of $38.10. The company has a market cap of $5.37 billion, a PE ratio of 40.00, a P/E/G ratio of 1.09 and a beta of 0.11.

Insider Transactions at Waystar

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $26.23, for a total transaction of $2,163,975.00. Following the completion of the transaction, the chief executive officer owned 1,804,794 shares in the company, valued at approximately $47,339,746.62. This represents a 4.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 247,500 shares of company stock valued at $6,370,499. Insiders own 3.50% of the company’s stock.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software designed to simplify administrative and financial processes across the healthcare industry. Its platform connects healthcare providers, health plans and patients, helping organizations manage revenue cycle operations and improve the flow of information and payments.

The company’s products and services include electronic claims management, eligibility and benefits verification, prior authorization, payment integrity, denial management, patient estimates and payments, billing automation, and healthcare analytics.