Jefferies Financial Group Inc. Takes $613,000 Position in Waystar Holding Corp. $WAY

Jefferies Financial Group Inc. bought a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,839 shares of the company’s stock, valued at approximately $613,000.

A number of other hedge funds also recently made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new stake in Waystar during the second quarter worth about $390,593,000. BlackRock Inc. bought a new stake in Waystar in the second quarter worth about $357,950,000. Advent International L.P. purchased a new position in Waystar in the second quarter valued at about $227,060,000. Alliancebernstein L.P. boosted its stake in Waystar by 3,883.4% in the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after acquiring an additional 3,186,869 shares during the last quarter. Finally, Jupiter Topco LLC bought a new position in shares of Waystar during the 2nd quarter valued at approximately $58,960,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WAY. Wells Fargo & Company decreased their price target on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Canaccord Genuity Group upped their price objective on Waystar from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday. Citigroup reissued a “buy” rating on shares of Waystar in a report on Monday, July 20th. Barclays increased their price objective on Waystar from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, KeyCorp reissued an “overweight” rating on shares of Waystar in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.52.

Insider Buying and Selling

In related news, CEO Matthew J. Hawkins sold 60,038 shares of Waystar stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $25.01, for a total value of $1,501,550.38. Following the completion of the transaction, the chief executive officer directly owned 1,835,081 shares in the company, valued at approximately $45,895,375.81. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.50% of the company’s stock.

Waystar Price Performance

NASDAQ WAY opened at $26.18 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.36. The company has a market cap of $5.02 billion, a PE ratio of 37.40, a price-to-earnings-growth ratio of 1.02 and a beta of 0.06. Waystar Holding Corp. has a 52 week low of $17.26 and a 52 week high of $41.47. The firm’s 50-day simple moving average is $23.05 and its two-hundred day simple moving average is $22.70.

Waystar (NASDAQ:WAY) last posted its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The firm had revenue of $319.67 million during the quarter, compared to the consensus estimate of $316.21 million. During the same quarter last year, the company earned $0.36 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. Research analysts predict that Waystar Holding Corp. will post 1.47 earnings per share for the current year.

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.