Wellington Management Group LLP Grows Stock Holdings in Waystar Holding Corp. $WAY

Wellington Management Group LLP grew its holdings in Waystar Holding Corp. (NASDAQ:WAY) by 23.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 793,481 shares of the company’s stock after acquiring an additional 148,846 shares during the period. Wellington Management Group LLP’s holdings in Waystar were worth $16,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WAY. Empowered Funds LLC purchased a new stake in Waystar during the 2nd quarter worth $259,000. Jefferies Financial Group Inc. purchased a new position in Waystar in the second quarter valued at about $613,000. Corient Private Wealth LP acquired a new position in shares of Waystar during the second quarter worth about $1,222,000. PointState Capital LP acquired a new position in shares of Waystar during the second quarter worth about $21,156,000. Finally, Bain Capital Venture Investors LLC acquired a new stake in shares of Waystar in the second quarter valued at about $18,127,271.

Wall Street Analyst Weigh In

WAY has been the topic of several analyst reports. KeyCorp reiterated an “overweight” rating on shares of Waystar in a report on Friday, July 31st. Truist Financial decreased their price target on Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Canaccord Genuity Group increased their price objective on shares of Waystar from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Barclays lifted their price objective on shares of Waystar from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $39.00 target price on shares of Waystar in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.14.

Waystar Stock Performance

NASDAQ:WAY opened at $25.07 on Monday. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 35.81, a price-to-earnings-growth ratio of 0.98 and a beta of 0.16. Waystar Holding Corp. has a one year low of $17.26 and a one year high of $41.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85. The business’s 50-day simple moving average is $23.57 and its 200 day simple moving average is $22.79.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The firm had revenue of $319.67 million during the quarter, compared to analyst estimates of $316.21 million. During the same quarter last year, the firm earned $0.36 EPS. Waystar’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts predict that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

Insider Activity

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $25.97, for a total transaction of $2,142,525.00. Following the transaction, the chief executive officer directly owned 1,804,794 shares in the company, valued at $46,870,500.18. This represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 165,000 shares of company stock valued at $4,206,524 in the last three months. 3.50% of the stock is currently owned by insiders.

Waystar Company 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.