Federated Hermes Inc. Acquires 157,024 Shares of Waystar Holding Corp. $WAY

Federated Hermes Inc. increased its holdings in Waystar Holding Corp. (NASDAQ:WAY) by 24.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 801,718 shares of the company’s stock after buying an additional 157,024 shares during the period. Federated Hermes Inc. owned about 0.46% of Waystar worth $32,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of WAY. PNC Financial Services Group Inc. lifted its stake in shares of Waystar by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company’s stock worth $549,000 after purchasing an additional 304 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Waystar by 5.2% in the second quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company’s stock worth $289,000 after purchasing an additional 348 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Waystar by 50.6% during the second 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 during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Waystar in the 2nd quarter valued at about $33,000. Finally, Dakota Wealth Management grew its position in shares of Waystar by 3.6% in 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 last quarter.

Insider Transactions at Waystar

In other news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $37.00, for a total value of $125,800.00. Following the transaction, the chief marketing officer directly owned 193,261 shares in the company, valued at approximately $7,150,657. This represents a 1.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $36.12, for a total value of $311,462.76. Following the transaction, the chief technology officer owned 422,371 shares in the company, valued at $15,256,040.52. This trade represents a 2.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,369,888 shares of company stock worth $171,179,460 in the last 90 days. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WAY shares. Weiss Ratings reissued a “hold (c)” rating on shares of Waystar in a research report on Wednesday, October 8th. Mizuho increased their price objective on Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. BMO Capital Markets started coverage on Waystar in a research note on Thursday, November 13th. They set an “outperform” rating and a $47.00 target price on the stock. Needham & Company LLC began coverage on Waystar in a research report on Tuesday, November 11th. They set a “buy” rating and a $46.00 target price on the stock. Finally, Barclays lowered their price target on Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $48.08.

Waystar Trading Down 8.4%

Shares of WAY opened at $30.43 on Wednesday. Waystar Holding Corp. has a 12-month low of $30.37 and a 12-month high of $48.11. The firm has a market capitalization of $5.82 billion, a P/E ratio of 49.08, a P/E/G ratio of 0.50 and a beta of 0.63. The firm has a 50-day moving average price of $36.56 and a 200 day moving average price of $37.31. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38.

Waystar Company Profile

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