Creative Planning Invests $589,000 in Waystar Holding Corp. $WAY

Creative Planning purchased a new stake in Waystar Holding Corp. (NASDAQ:WAY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,400 shares of the company’s stock, valued at approximately $589,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WAY. PNC Financial Services Group Inc. increased its stake in Waystar by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company’s stock valued at $549,000 after purchasing an additional 304 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Waystar by 5.2% in the 2nd quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company’s stock valued at $289,000 after buying an additional 348 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Waystar by 50.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after buying an additional 358 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Waystar during the 2nd quarter worth $33,000. Finally, Dakota Wealth Management raised its stake in Waystar by 3.6% during the 2nd quarter. Dakota Wealth Management now owns 34,724 shares of the company’s stock worth $1,419,000 after buying an additional 1,213 shares during the period.

Insider Activity

In other news, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $36.12, for a total transaction of $311,462.76. Following the transaction, the chief technology officer owned 422,371 shares in the company, valued at approximately $15,256,040.52. This trade represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul G. Moskowitz sold 4,295,139 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $39.21, for a total value of $168,412,400.19. Following the completion of the sale, the director owned 13,759,910 shares of the company’s stock, valued at $539,526,071.10. This trade represents a 23.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 4,499,581 shares of company stock valued at $176,385,253. Company insiders own 4.10% of the company’s stock.

Waystar Price Performance

Shares of WAY opened at $35.40 on Friday. The firm has a market capitalization of $6.77 billion, a PE ratio of 57.10, a PEG ratio of 0.54 and a beta of 0.64. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.89. The company’s 50-day moving average is $36.86 and its 200-day moving average is $37.47. Waystar Holding Corp. has a fifty-two week low of $29.78 and a fifty-two week high of $48.11.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup increased their price target on Waystar from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 31st. JMP Securities assumed coverage on Waystar in a research report on Thursday, September 18th. They issued a “market outperform” rating and a $48.00 price objective for the company. Baird R W upgraded shares of Waystar to a “strong-buy” rating in a report on Friday, September 5th. Wall Street Zen cut shares of Waystar from a “buy” rating to a “hold” rating in a report on Saturday, November 29th. Finally, Mizuho increased their price objective on shares of Waystar from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $48.69.

Waystar Company Profile

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