Canada Pension Plan Investment Board bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,025,452 shares of the company’s stock, valued at approximately $390,593,000. Canada Pension Plan Investment Board owned about 0.10% of Waystar as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Osterweis Capital Management Inc. acquired a new stake in Waystar in the second quarter worth about $5,776,000. Parkman Healthcare Partners LLC acquired a new position in Waystar during the 2nd quarter valued at about $4,188,000. Legal & General Group Plc acquired a new position in Waystar during the 2nd quarter valued at about $5,299,000. The Manufacturers Life Insurance Company bought a new position in shares of Waystar in the 2nd quarter valued at about $1,348,000. Finally, Cetera Trust Company N.A bought a new position in shares of Waystar in the 2nd quarter valued at about $142,000.
Insiders Place Their Bets
In other Waystar news, CEO Matthew J. Hawkins sold 60,038 shares of Waystar stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the transaction, the chief executive officer directly owned 1,835,081 shares in the company, valued at approximately $45,895,375.81. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.50% of the company’s stock.
Waystar Trading Down 4.5%
Waystar (NASDAQ:WAY – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The company had revenue of $319.67 million for the quarter, compared to analysts’ expectations of $316.21 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities research analysts anticipate that Waystar Holding Corp. will post 1.47 EPS for the current year.
Wall Street Analyst Weigh In
WAY has been the subject of a number of recent research reports. UBS Group dropped their price target on shares of Waystar from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Weiss Ratings cut shares of Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $39.00 target price on shares of Waystar in a report on Friday, July 31st. Truist Financial dropped their target price on shares of Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Wall Street Zen downgraded Waystar from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.
View Our Latest Stock Analysis on Waystar
Waystar 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.
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