Peregrine Capital Management LLC Raises Stock Position in Waystar Holding Corp. $WAY

Peregrine Capital Management LLC grew its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 20.7% in the third quarter, Holdings Channel.com reports. The fund owned 355,941 shares of the company’s stock after purchasing an additional 61,027 shares during the period. Peregrine Capital Management LLC’s holdings in Waystar were worth $13,497,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in shares of Waystar in the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division purchased a new position in Waystar during the second quarter worth $33,000. Nisa Investment Advisors LLC increased its position in Waystar by 50.6% during 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Waystar by 3,219.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $57,000 after acquiring an additional 1,352 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Waystar by 515.8% in 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 in the last quarter.

Analysts Set New Price Targets

WAY has been the topic of a number of recent research reports. Needham & Company LLC initiated coverage on shares of Waystar in a report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 target price on the stock. BMO Capital Markets assumed coverage on shares of Waystar in a research report on Thursday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. JMP Securities assumed coverage on shares of Waystar in a research report on Thursday, September 18th. They set a “market outperform” rating and a $48.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waystar in a research note on Wednesday, October 8th. Finally, Citizens Jmp started coverage on Waystar in a report on Thursday, September 18th. They issued a “mkt outperform” rating and a $48.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Waystar presently has a consensus rating of “Buy” and an average target price of $47.43.

Insider Activity

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction that occurred 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 of the company’s stock, valued at $15,256,040.52. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $36.94, for a total transaction of $358,354.94. Following the completion of the transaction, the insider directly owned 474,826 shares in the company, valued at approximately $17,540,072.44. This represents a 2.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 49,749 shares of company stock valued at $1,718,384 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Waystar Trading Down 1.8%

Shares of WAY opened at $33.08 on Friday. Waystar Holding Corp. has a twelve month low of $29.40 and a twelve month high of $48.11. The firm has a market capitalization of $6.33 billion, a P/E ratio of 53.35, a price-to-earnings-growth ratio of 0.42 and a beta of 0.76. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. The stock’s fifty day simple moving average is $34.31 and its 200 day simple moving average is $36.32.

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.