Jennison Associates LLC trimmed its holdings in Waystar Holding Corp. (NASDAQ:WAY – Free Report) by 41.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 516,149 shares of the company’s stock after selling 366,681 shares during the period. Jennison Associates LLC’s holdings in Waystar were worth $12,444,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WAY. Advent International L.P. acquired a new position in shares of Waystar during the 4th quarter valued at about $362,212,000. Alliancebernstein L.P. increased its position in Waystar by 3,883.4% during the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock worth $133,601,000 after purchasing an additional 3,186,869 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in Waystar by 4,717.4% during the third quarter. Alyeska Investment Group L.P. now owns 1,814,648 shares of the company’s stock worth $68,811,000 after purchasing an additional 1,776,979 shares during the period. Bamco Inc. NY purchased a new position in Waystar during the fourth quarter worth approximately $45,642,000. Finally, Norges Bank acquired a new position in shares of Waystar in the 4th quarter valued at $44,627,000.
Waystar Price Performance
WAY stock opened at $21.51 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.76 and a current ratio of 1.76. Waystar Holding Corp. has a 1 year low of $17.26 and a 1 year high of $41.47. The firm has a market cap of $4.13 billion, a P/E ratio of 32.10, a price-to-earnings-growth ratio of 0.87 and a beta of 0.08. The stock has a 50-day simple moving average of $20.26 and a 200-day simple moving average of $23.73.
Analyst Ratings Changes
Several analysts have recently issued reports on WAY shares. Wall Street Zen cut shares of Waystar from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Citigroup reaffirmed a “market outperform” rating on shares of Waystar in a research report on Monday. Bank of America lowered their price target on Waystar from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 10th. KeyCorp assumed coverage on Waystar in a research note on Wednesday, July 1st. They set an “overweight” rating and a $30.00 price target for the company. Finally, Weiss Ratings lowered Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Waystar currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.23.
View Our Latest Analysis on WAY
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.
Featured Stories
- Five stocks we like better than Waystar
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Want to see what other hedge funds are holding WAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waystar Holding Corp. (NASDAQ:WAY – Free Report).
Receive News & Ratings for Waystar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waystar and related companies with MarketBeat.com's FREE daily email newsletter.
