Sei Investments Co. Grows Stake in Waystar Holding Corp. $WAY

Sei Investments Co. raised its position in shares of Waystar Holding Corp. (NASDAQ:WAY) by 33.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 370,818 shares of the company’s stock after purchasing an additional 92,987 shares during the period. Sei Investments Co.’s holdings in Waystar were worth $8,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Root Financial Partners LLC grew its position in shares of Waystar by 6,475.0% during the 1st quarter. Root Financial Partners LLC now owns 1,052 shares of the company’s stock worth $25,000 after buying an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Waystar by 6,005.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company’s stock valued at $38,000 after acquiring an additional 1,141 shares in the last quarter. Danske Bank A S bought a new stake in shares of Waystar in the fourth quarter valued at about $52,000. 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 worth $57,000 after acquiring an additional 1,352 shares during the period. Finally, OP Asset Management Ltd purchased a new stake in Waystar in the first quarter worth about $58,000.

Waystar Price Performance

Shares of WAY stock opened at $21.11 on Friday. The stock’s 50-day moving average is $20.80 and its 200 day moving average is $23.20. Waystar Holding Corp. has a 1-year low of $17.26 and a 1-year high of $41.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.76. The company has a market cap of $4.05 billion, a P/E ratio of 30.16, a PEG ratio of 0.83 and a beta of 0.08.

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

Analysts Set New Price Targets

A number of research analysts have commented on WAY shares. Bank of America cut their target price on shares of Waystar from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Weiss Ratings cut shares of Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. dropped their price objective on shares of Waystar from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Barclays dropped their price objective on shares of Waystar from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.14.

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.