Waystar Holding Corp. (NASDAQ:WAY) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 581,044 shares of the company’s stock after selling 26,951 shares during the period. Adage Capital Partners GP L.L.C. owned 0.34% of Waystar worth $21,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Waystar in the fourth quarter valued at about $119,387,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Waystar during the fourth quarter valued at about $56,804,000. Vanguard Group Inc. raised its position in shares of Waystar by 26.8% in the 4th quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock valued at $183,182,000 after purchasing an additional 1,054,180 shares during the last quarter. Burkehill Global Management LP acquired a new stake in Waystar in the 4th quarter worth approximately $23,855,000. Finally, Avenir Corp grew its position in Waystar by 205.3% during the 4th quarter. Avenir Corp now owns 590,244 shares of the company’s stock worth $21,662,000 after purchasing an additional 396,911 shares during the last quarter.

Waystar Price Performance

Waystar stock opened at $37.02 on Friday. Waystar Holding Corp. has a 12 month low of $20.26 and a 12 month high of $48.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The business has a 50 day simple moving average of $38.17 and a 200-day simple moving average of $35.72.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The company had revenue of $244.10 million for the quarter, compared to analyst estimates of $232.29 million. Analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

WAY has been the subject of a number of research analyst reports. Barclays decreased their price target on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Bank of America increased their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. Canaccord Genuity Group upped their target price on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Jefferies Financial Group initiated coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a “buy” rating and a $51.00 price target for the company. Finally, Truist Financial initiated coverage on shares of Waystar in a report on Friday, March 14th. They issued a “buy” rating and a $45.00 price objective on the stock. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $40.33.

Insider Buying and Selling

In other Waystar news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction on Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the sale, the insider now owns 29,692,286 shares of the company’s stock, valued at $1,187,691,440. The trade was a 20.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $42.15, for a total transaction of $143,310.00. Following the sale, the chief marketing officer now directly owns 43,478 shares of the company’s stock, valued at $1,832,597.70. The trade was a 7.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,411,461 shares of company stock worth $528,743,995.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.