Waystar Holding Corp. (NASDAQ:WAY) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in Waystar Holding Corp. (NASDAQ:WAY) by 6,320.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,668 shares of the company’s stock after purchasing an additional 8,533 shares during the period. GAMMA Investing LLC’s holdings in Waystar were worth $324,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its stake in shares of Waystar by 64.9% during the 4th quarter. Deutsche Bank AG now owns 34,847 shares of the company’s stock worth $1,279,000 after buying an additional 13,715 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Waystar in the 4th quarter valued at about $1,504,000. M&T Bank Corp increased its holdings in Waystar by 16.7% during the 4th quarter. M&T Bank Corp now owns 74,390 shares of the company’s stock valued at $2,730,000 after acquiring an additional 10,644 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Waystar by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company’s stock worth $13,862,000 after acquiring an additional 11,117 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Waystar by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,120,296 shares of the company’s stock valued at $41,124,000 after purchasing an additional 18,872 shares in the last quarter.

Insider Buying and Selling

In related news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $40.58, for a total value of $349,921.34. Following the transaction, the chief technology officer now owns 438,044 shares in the company, valued at approximately $17,775,825.52. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $37.39, for a total value of $153,723,638.23. Following the sale, the insider now owns 25,580,929 shares of the company’s stock, valued at $956,470,935.31. This represents a 13.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,664,620 shares of company stock valued at $324,520,903. Insiders own 4.10% of the company’s stock.

Waystar Price Performance

WAY stock opened at $37.69 on Friday. The stock has a market capitalization of $6.52 billion and a price-to-earnings ratio of 418.82. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.39. Waystar Holding Corp. has a 52-week low of $20.26 and a 52-week high of $48.11. The stock’s fifty day simple moving average is $38.75 and its 200-day simple moving average is $38.40.

Waystar (NASDAQ:WAY) last released its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. Waystar had a return on equity of 3.10% and a net margin of 2.67%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WAY. TD Cowen upgraded shares of Waystar to a “strong-buy” rating in a research report on Thursday, June 5th. Canaccord Genuity Group reduced their target price on Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Barclays lowered their target price on Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Truist Financial set a $50.00 price target on Waystar and gave the stock a “buy” rating in a report on Wednesday, May 7th. Twelve analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $40.50.

Waystar Profile

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