Legal & General Group Plc Makes New $5.30 Million Investment in Waystar Holding Corp. $WAY

Legal & General Group Plc acquired a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 258,131 shares of the company’s stock, valued at approximately $5,299,000. Legal & General Group Plc owned about 0.13% of Waystar as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WAY. BlackRock Inc. purchased a new stake in shares of Waystar during the second quarter valued at $357,950,000. Vanguard Group Inc. raised its holdings in shares of Waystar by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 12,330,872 shares of the company’s stock valued at $403,836,000 after acquiring an additional 41,062 shares during the period. Advent International L.P. purchased a new stake in shares of Waystar in the 4th quarter valued at approximately $362,212,000. William Blair Investment Management LLC boosted its stake in Waystar by 0.4% in the 4th quarter. William Blair Investment Management LLC now owns 5,282,220 shares of the company’s stock worth $172,993,000 after purchasing an additional 19,033 shares during the period. Finally, State Street Corp grew its position in Waystar by 4.0% during the 4th quarter. State Street Corp now owns 4,134,052 shares of the company’s stock worth $135,390,000 after purchasing an additional 159,183 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WAY shares. Wolfe Research upgraded Waystar to an “outperform” rating in a report on Thursday, August 13th. Barclays upped their price target on Waystar from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Truist Financial decreased their price objective on Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $44.00 target price on shares of Waystar in a research note on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $39.00 price target 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 issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Waystar has a consensus rating of “Moderate Buy” and an average target price of $35.52.

Insider Transactions at Waystar

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $25.97, for a total value of $2,142,525.00. Following the completion of the sale, the chief executive officer directly owned 1,804,794 shares of the company’s stock, valued at $46,870,500.18. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 165,000 shares of company stock valued at $4,206,524 in the last ninety days. 3.50% of the stock is owned by insiders.

Waystar Price Performance

WAY opened at $26.08 on Friday. The stock has a fifty day moving average price of $23.47 and a 200 day moving average price of $22.77. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. Waystar Holding Corp. has a 1 year low of $17.26 and a 1 year high of $41.47. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 37.26, a PEG ratio of 1.00 and a beta of 0.16.

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

Waystar Company 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.