Amalgamated Bank Increases Stock Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Amalgamated Bank boosted its stake in Waystar Holding Corp. (NASDAQ:WAY) by 84.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,716 shares of the company’s stock after purchasing an additional 1,241 shares during the quarter. Amalgamated Bank’s holdings in Waystar were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Waystar during the fourth quarter worth approximately $119,387,000. Fuller & Thaler Asset Management Inc. bought a new stake in Waystar in the fourth quarter valued at $56,804,000. Farallon Capital Management LLC bought a new stake in shares of Waystar during the 4th quarter valued at $49,251,000. Vanguard Group Inc. boosted its holdings in shares of Waystar by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock valued at $183,182,000 after buying an additional 1,054,180 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Waystar by 263.2% in the 4th quarter. Bank of America Corp DE now owns 1,104,189 shares of the company’s stock worth $40,524,000 after purchasing an additional 800,183 shares during the last quarter.

Waystar Stock Performance

Shares of Waystar stock opened at $37.41 on Friday. The firm has a market cap of $6.47 billion and a P/E ratio of 415.71. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.39. Waystar Holding Corp. has a 12 month low of $20.74 and a 12 month high of $48.11. The stock’s fifty day moving average price is $39.27 and its 200-day moving average price is $38.90.

Waystar (NASDAQ:WAY) last posted its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Waystar had a return on equity of 3.10% and a net margin of 2.67%. The company had revenue of $256.44 million for 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. On average, equities research analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $40.22, for a total transaction of $390,214.44. Following the transaction, the insider owned 490,870 shares of the company’s stock, valued at approximately $19,742,791.40. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Canada Pension Plan Investment sold 616,704 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $37.39, for a total value of $23,058,562.56. Following the completion of the transaction, the insider directly owned 24,964,225 shares in the company, valued at approximately $933,412,372.75. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,637,357 shares of company stock valued at $323,591,895. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WAY shares. TD Cowen raised Waystar to a “strong-buy” rating in a research report on Thursday, June 5th. Canaccord Genuity Group cut their price objective on Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Barclays dropped their price target on Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Truist Financial set a $50.00 target price on Waystar and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Citigroup began coverage on Waystar in a report on Wednesday, June 25th. They set a “buy” rating and a $45.00 price target on the stock. Twelve analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Waystar presently has a consensus rating of “Buy” and an average price target of $42.23.

Waystar Profile

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