Cerity Partners LLC Acquires 41,565 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Cerity Partners LLC grew its holdings in Waystar Holding Corp. (NASDAQ:WAY) by 89.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,844 shares of the company’s stock after buying an additional 41,565 shares during the period. Cerity Partners LLC owned approximately 0.05% of Waystar worth $3,282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in shares of Waystar by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company’s stock valued at $13,862,000 after purchasing an additional 11,117 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Waystar in the 4th quarter worth about $1,504,000. Swiss National Bank purchased a new position in shares of Waystar during the 4th quarter worth about $3,009,000. Quantbot Technologies LP bought a new position in Waystar during the 4th quarter valued at about $1,622,000. Finally, American Century Companies Inc. grew its holdings in Waystar by 0.4% during the 4th quarter. American Century Companies Inc. now owns 1,476,236 shares of the company’s stock valued at $54,178,000 after purchasing an additional 6,409 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Canaccord Genuity Group dropped their target price 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. Truist Financial lifted their price target on shares of Waystar from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup initiated coverage on Waystar in a report on Wednesday, June 25th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Mizuho initiated coverage on Waystar in a research note on Monday, June 30th. They issued an “outperform” rating and a $48.00 price objective on the stock. Twelve research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $42.31.

Insider Activity

In other Waystar news, Director Paul G. Moskowitz sold 3,012,253 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $37.39, for a total value of $112,628,139.67. Following the completion of the sale, the director directly owned 18,742,283 shares in the company, valued at approximately $700,773,961.37. This trade represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Hawkins sold 197,847 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $38.53, for a total value of $7,623,044.91. Following the sale, the chief executive officer owned 764,131 shares in the company, valued at $29,441,967.43. The trade was a 20.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,684,024 shares of company stock valued at $325,377,374 over the last three months. Company insiders own 4.10% of the company’s stock.

Waystar Price Performance

WAY opened at $36.70 on Friday. The firm has a market capitalization of $6.39 billion and a PE ratio of 407.82. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.12 and a quick ratio of 3.12. The business’s 50-day moving average is $38.96 and its two-hundred day moving average is $38.90. Waystar Holding Corp. has a 1 year low of $20.74 and a 1 year high of $48.11.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The firm had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. The business’s revenue was up 14.1% on a year-over-year basis. Research analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

About Waystar

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