Smith Group Asset Management LLC Sells 4,980 Shares of Waystar Holding Corp. $WAY

Smith Group Asset Management LLC lowered its position in shares of Waystar Holding Corp. (NASDAQ:WAY) by 38.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,878 shares of the company’s stock after selling 4,980 shares during the quarter. Smith Group Asset Management LLC’s holdings in Waystar were worth $322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WAY. Vanguard Group Inc. lifted its holdings in shares of Waystar by 62.1% during the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock worth $302,263,000 after buying an additional 3,099,211 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Waystar by 9,107.1% during the first quarter. Invesco Ltd. now owns 2,040,285 shares of the company’s stock worth $76,225,000 after buying an additional 2,018,125 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Waystar by 721.4% during the first quarter. Ameriprise Financial Inc. now owns 1,202,340 shares of the company’s stock worth $44,919,000 after buying an additional 1,055,965 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Waystar by 23.9% during the second quarter. William Blair Investment Management LLC now owns 5,239,365 shares of the company’s stock worth $214,133,000 after buying an additional 1,011,940 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Waystar by 75.3% during the first quarter. Lord Abbett & CO. LLC now owns 1,336,875 shares of the company’s stock worth $49,945,000 after buying an additional 574,295 shares in the last quarter.

Insider Activity at Waystar

In other news, Director Paul G. Moskowitz sold 4,295,139 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $39.21, for a total transaction of $168,412,400.19. Following the sale, the director directly owned 13,759,910 shares in the company, valued at approximately $539,526,071.10. The trade was a 23.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $40.49, for a total value of $674,806.34. Following the completion of the sale, the chief financial officer owned 354,512 shares in the company, valued at $14,354,190.88. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,546,249 shares of company stock valued at $177,987,193. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WAY. Mizuho initiated coverage on Waystar in a report on Monday, June 30th. They set an “outperform” rating and a $48.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waystar in a research note on Wednesday, October 8th. Robert W. Baird initiated coverage on Waystar in a research note on Friday, September 5th. They issued an “outperform” rating and a $44.00 price target for the company. Citizens Jmp assumed coverage on Waystar in a research note on Thursday, September 18th. They issued a “mkt outperform” rating and a $48.00 price target for the company. Finally, JMP Securities assumed coverage on Waystar in a research note on Thursday, September 18th. They set a “market outperform” rating and a $48.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $45.50.

Waystar Stock Up 0.9%

Shares of NASDAQ WAY opened at $38.03 on Friday. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 79.23, a PEG ratio of 0.69 and a beta of 0.69. Waystar Holding Corp. has a 12 month low of $27.05 and a 12 month high of $48.11. The stock has a 50-day moving average price of $37.51 and a two-hundred day moving average price of $37.77.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $270.65 million for the quarter, compared to analysts’ expectations of $255.26 million. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 earnings per share. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Waystar Company Profile

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