Nicholas Investment Partners LP Makes New $3.04 Million Investment in Waystar Holding Corp. (NASDAQ:WAY)

Nicholas Investment Partners LP purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 82,854 shares of the company’s stock, valued at approximately $3,041,000.

Several other hedge funds also recently modified their holdings of WAY. Nuveen Asset Management LLC boosted its holdings in shares of Waystar by 66.5% during the 4th quarter. Nuveen Asset Management LLC now owns 507,453 shares of the company’s stock worth $18,624,000 after buying an additional 202,747 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Waystar in the fourth quarter worth about $701,000. Occudo Quantitative Strategies LP grew its stake in shares of Waystar by 381.5% during the 4th quarter. Occudo Quantitative Strategies LP now owns 87,860 shares of the company’s stock worth $3,224,000 after acquiring an additional 69,611 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Waystar by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company’s stock valued at $901,000 after acquiring an additional 960 shares during the period. Finally, Iron Triangle Partners LP bought a new position in shares of Waystar in the fourth quarter valued at approximately $20,254,000.

Insider Buying and Selling

In other Waystar news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 29,692,286 shares in the company, valued at $1,187,691,440. This trade represents a 20.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction that occurred 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 approximately $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 90 days, insiders sold 13,420,084 shares of company stock valued at $529,090,381.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Canaccord Genuity Group cut their target price on Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group initiated coverage on Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price for the company. Barclays reduced their price objective on Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group lifted their target price on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Truist Financial set a $50.00 target price on shares of Waystar and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and an average price target of $40.50.

Waystar Price Performance

NASDAQ WAY opened at $39.11 on Wednesday. The stock’s 50-day moving average price is $37.47 and its two-hundred day moving average price is $36.70. The company has a market cap of $6.77 billion and a PE ratio of 434.56. Waystar Holding Corp. has a 1 year low of $20.26 and a 1 year high of $48.11. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last posted its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Waystar Profile

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