22,780 Shares in Waystar Holding Corp. $WAY Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new position in Waystar Holding Corp. (NASDAQ:WAY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,780 shares of the company’s stock, valued at approximately $864,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Salomon & Ludwin LLC bought a new position in shares of Waystar during the third quarter valued at approximately $25,000. First Horizon Corp bought a new position in Waystar during the 3rd quarter worth $38,000. Nisa Investment Advisors LLC increased its position in Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after buying an additional 358 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Waystar by 3,219.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after buying an additional 1,352 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Waystar by 515.8% during the third quarter. CWM LLC now owns 2,100 shares of the company’s stock valued at $80,000 after acquiring an additional 1,759 shares during the period.

Insider Buying and Selling

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $30.08, for a total value of $1,209,968.00. Following the completion of the sale, the insider directly owned 474,826 shares in the company, valued at $14,282,766.08. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $7,150,657. The trade was a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 80,273 shares of company stock valued at $2,569,997 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Waystar Stock Up 1.6%

WAY stock opened at $29.98 on Friday. The firm’s 50-day moving average is $33.04 and its two-hundred day moving average is $35.65. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 0.37 and a beta of 0.76. Waystar Holding Corp. has a 52 week low of $28.71 and a 52 week high of $48.11. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38.

Analyst Ratings Changes

WAY has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of Waystar from $49.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Wells Fargo & Company initiated coverage on shares of Waystar in a research report on Thursday, January 8th. They issued an “overweight” rating and a $41.00 target price for the company. UBS Group initiated coverage on Waystar in a report on Monday, December 15th. They set a “buy” rating and a $41.00 price target on the stock. Mizuho boosted their price objective on Waystar from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen cut Waystar from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Waystar presently has an average rating of “Buy” and an average target price of $46.64.

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.