Public Sector Pension Investment Board Purchases New Shares in Waystar Holding Corp. $WAY

Public Sector Pension Investment Board acquired a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY) in the 3rd quarter, Holdings Channel reports. The firm acquired 448,416 shares of the company’s stock, valued at approximately $17,004,000.

A number of other large investors have also recently made changes to their positions in WAY. Ground Swell Capital LLC purchased a new stake in shares of Waystar during the 3rd quarter valued at about $213,000. Illinois Municipal Retirement Fund grew its position in Waystar by 231.3% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 59,775 shares of the company’s stock valued at $2,267,000 after acquiring an additional 41,731 shares during the last quarter. Rhumbline Advisers lifted its holdings in Waystar by 114.0% during the 3rd quarter. Rhumbline Advisers now owns 294,642 shares of the company’s stock valued at $11,173,000 after buying an additional 156,974 shares in the last quarter. ProShare Advisors LLC grew its stake in Waystar by 10.8% in the third quarter. ProShare Advisors LLC now owns 20,710 shares of the company’s stock worth $785,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Renaissance Group LLC purchased a new position in shares of Waystar during the third quarter valued at $8,375,000.

Analyst Ratings Changes

Several research firms have issued reports on WAY. BMO Capital Markets initiated coverage on Waystar in a research note on Thursday, November 13th. They issued an “outperform” rating and a $47.00 target price on the stock. Leerink Partners started coverage on shares of Waystar in a report on Monday, February 2nd. They issued an “outperform” rating and a $43.00 price target on the stock. The Goldman Sachs Group set a $44.00 price objective on Waystar in a report on Wednesday, January 14th. Barclays dropped their price target on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, December 8th. Finally, Wells Fargo & Company assumed coverage on Waystar in a report on Thursday, January 8th. They issued an “overweight” rating and a $41.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $45.50.

Insider Activity at Waystar

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $30.41, for a total value of $262,225.43. Following the completion of the transaction, the chief technology officer owned 422,371 shares in the company, valued at $12,844,302.11. This represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total value of $125,800.00. Following the transaction, the chief marketing officer owned 193,261 shares in the company, valued at $7,150,657. This represents a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 71,650 shares of company stock valued at $2,258,535 over the last quarter. 4.10% of the stock is owned by insiders.

Waystar Price Performance

WAY opened at $22.41 on Friday. The stock’s 50-day moving average price is $29.88 and its 200 day moving average price is $34.39. 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 Holding Corp. has a 12-month low of $21.45 and a 12-month high of $48.11. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 0.28 and a beta of 0.75.

Waystar 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.