Waystar Holding Corp. $WAY Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY) by 231.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,775 shares of the company’s stock after purchasing an additional 41,731 shares during the period. Illinois Municipal Retirement Fund’s holdings in Waystar were worth $2,267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WAY. Lisanti Capital Growth LLC bought a new position in shares of Waystar during the third quarter worth about $4,002,000. Munro Partners boosted its stake in Waystar by 107.5% during the 3rd quarter. Munro Partners now owns 178,890 shares of the company’s stock valued at $6,784,000 after purchasing an additional 92,695 shares during the period. Thrivent Financial for Lutherans grew its position in Waystar by 2,923.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 882,427 shares of the company’s stock worth $33,461,000 after purchasing an additional 853,239 shares during the last quarter. Oak Ridge Investments LLC acquired a new stake in shares of Waystar in the third quarter valued at approximately $2,139,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Waystar by 32.0% during the third quarter. New York State Common Retirement Fund now owns 515,946 shares of the company’s stock valued at $19,565,000 after buying an additional 125,199 shares during the last quarter.

Insider Activity

In other news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of Waystar stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total value of $1,209,968.00. Following the transaction, the insider owned 474,826 shares of the company’s stock, valued at $14,282,766.08. The trade was a 7.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $30.41, for a total transaction of $262,225.43. Following the sale, the chief technology officer directly owned 422,371 shares of the company’s stock, valued at approximately $12,844,302.11. This represents a 2.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 71,650 shares of company stock worth $2,258,535. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

WAY has been the subject of a number of recent analyst reports. Canaccord Genuity Group set a $54.00 price objective on Waystar in a report on Thursday, October 30th. BMO Capital Markets assumed coverage on Waystar in a research note on Thursday, November 13th. They issued an “outperform” rating and a $47.00 price target for the company. Leerink Partners assumed coverage on shares of Waystar in a research note on Monday, February 2nd. They set an “outperform” rating and a $43.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Waystar in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Waystar from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Waystar has a consensus rating of “Buy” and an average price target of $45.50.

Waystar Trading Up 3.1%

Shares of WAY stock opened at $22.41 on Tuesday. The stock has a 50-day simple moving average of $29.66 and a 200 day simple moving average of $34.28. The stock has a market capitalization of $4.29 billion, a P/E ratio of 36.15, a P/E/G ratio of 0.28 and a beta of 0.77. Waystar Holding Corp. has a fifty-two week low of $21.45 and a fifty-two week high of $48.11. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.38.

About Waystar

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.