Zurcher Kantonalbank Zurich Cantonalbank Acquires 5,635 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY) by 38.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,170 shares of the company’s stock after buying an additional 5,635 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Waystar were worth $754,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of WAY. RiverPark Advisors LLC lifted its position in shares of Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock valued at $128,000 after acquiring an additional 710 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Waystar by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company’s stock valued at $901,000 after purchasing an additional 960 shares during the period. Legato Capital Management LLC boosted its position in shares of Waystar by 8.4% during the 1st quarter. Legato Capital Management LLC now owns 12,398 shares of the company’s stock worth $463,000 after purchasing an additional 960 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Waystar by 1.8% in the 4th quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company’s stock valued at $1,985,000 after buying an additional 964 shares during the period. Finally, Amalgamated Bank increased its position in Waystar by 84.1% in the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock valued at $101,000 after buying an additional 1,241 shares in the last quarter.

Insider Buying and Selling

In other news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $37.10, for a total value of $359,944.20. Following the completion of the sale, the insider directly owned 490,870 shares of the company’s stock, valued at $18,211,277. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider T. Craig Bridge sold 85,000 shares of the company’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the completion of the transaction, the insider directly owned 682,843 shares of the company’s stock, valued at $25,326,646.87. This represents a 11.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,778,726 shares of company stock valued at $328,889,968. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WAY. Truist Financial increased their price target on Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. TD Cowen raised shares of Waystar to a “strong-buy” rating in a research report on Thursday, June 5th. Mizuho began coverage on shares of Waystar in a research note on Monday, June 30th. They set an “outperform” rating and a $48.00 price target for the company. Barclays dropped their price objective on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, Citigroup initiated coverage on shares of Waystar in a research report on Wednesday, June 25th. They set a “buy” rating and a $45.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Waystar presently has a consensus rating of “Buy” and a consensus price target of $42.31.

Waystar Stock Performance

Shares of WAY stock opened at $34.83 on Wednesday. The company has a market capitalization of $6.07 billion, a P/E ratio of 72.56, a PEG ratio of 0.65 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. The stock has a 50 day moving average price of $38.21 and a two-hundred day moving average price of $38.81. Waystar Holding Corp. has a fifty-two week low of $21.49 and a fifty-two week high of $48.11.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $270.65 million during the quarter, compared to analyst estimates of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. Waystar’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. Analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Waystar Company Profile

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