Capricorn Fund Managers Ltd Invests $19.15 Million in Waystar Holding Corp. $WAY

Capricorn Fund Managers Ltd acquired a new position in Waystar Holding Corp. (NASDAQ:WAY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 505,122 shares of the company’s stock, valued at approximately $19,154,000. Waystar makes up about 6.4% of Capricorn Fund Managers Ltd’s investment portfolio, making the stock its biggest position. Capricorn Fund Managers Ltd owned about 0.29% of Waystar as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WAY. William Blair Investment Management LLC raised its stake in Waystar by 23.9% in the second quarter. William Blair Investment Management LLC now owns 5,239,365 shares of the company’s stock valued at $214,133,000 after buying an additional 1,011,940 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Waystar by 3,883.4% in the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after purchasing an additional 3,186,869 shares during the last quarter. Geode Capital Management LLC boosted its stake in Waystar by 14.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,376,932 shares of the company’s stock worth $97,155,000 after purchasing an additional 309,119 shares in the last quarter. Bank of America Corp DE grew its position in Waystar by 10.7% during the 2nd quarter. Bank of America Corp DE now owns 2,087,680 shares of the company’s stock worth $85,323,000 after purchasing an additional 201,262 shares during the last quarter. Finally, State Street Corp grew its position in Waystar by 28.8% during the 2nd quarter. State Street Corp now owns 2,017,593 shares of the company’s stock worth $82,459,000 after purchasing an additional 451,262 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Waystar from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Baird R W upgraded Waystar to a “strong-buy” rating in a research note on Friday, September 5th. UBS Group initiated coverage on Waystar in a research note on Monday, December 15th. They set a “buy” rating and a $41.00 price target on the stock. Canaccord Genuity Group set a $54.00 price objective on Waystar in a report on Thursday, October 30th. Finally, JMP Securities started coverage on Waystar in a report on Thursday, September 18th. They set a “market outperform” rating and a $48.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Waystar currently has a consensus rating of “Buy” and a consensus price target of $47.57.

Insider Activity at Waystar

In related news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $32.82, for a total value of $318,386.82. Following the completion of the sale, the insider owned 474,826 shares of the company’s stock, valued at approximately $15,583,789.32. The trade was a 2.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $36.12, for a total transaction of $311,462.76. Following the transaction, the chief technology officer directly owned 422,371 shares in the company, valued at approximately $15,256,040.52. The trade was a 2.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 58,372 shares of company stock worth $2,030,623 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Waystar Stock Down 0.1%

WAY opened at $32.98 on Friday. The company has a fifty day moving average of $35.32 and a two-hundred day moving average of $36.68. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 53.19, a PEG ratio of 0.50 and a beta of 0.64. Waystar Holding Corp. has a fifty-two week low of $29.40 and a fifty-two week high of $48.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89.

Waystar Company Profile

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.