Schroder Investment Management Group Cuts Stake in Waystar Holding Corp. (NASDAQ:WAY)

Schroder Investment Management Group cut its holdings in Waystar Holding Corp. (NASDAQ:WAY) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,931 shares of the company’s stock after selling 2,491 shares during the period. Schroder Investment Management Group’s holdings in Waystar were worth $7,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Waystar by 760.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 161,687 shares of the company’s stock worth $5,934,000 after buying an additional 142,888 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in Waystar in the 4th quarter valued at $237,000. Norges Bank bought a new position in shares of Waystar during the 4th quarter valued at about $119,387,000. Blair William & Co. IL grew its position in shares of Waystar by 30.7% during the fourth quarter. Blair William & Co. IL now owns 59,542 shares of the company’s stock valued at $2,185,000 after purchasing an additional 14,000 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Waystar in the fourth quarter worth about $48,000.

Insider Activity

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $42.15, for a total value of $143,310.00. Following the completion of the transaction, the chief marketing officer now owns 43,478 shares of the company’s stock, valued at $1,832,597.70. The trade was a 7.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the sale, the insider now directly owns 29,692,286 shares in the company, valued at $1,187,691,440. This trade represents a 20.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,356,171 shares of company stock worth $526,733,651.

Waystar Stock Performance

WAY stock opened at $34.93 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. Waystar Holding Corp. has a 12 month low of $20.26 and a 12 month high of $48.11. The firm’s 50-day moving average is $40.07 and its 200 day moving average is $34.64.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to analysts’ expectations of $232.29 million. On average, analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WAY shares. Barclays raised their price target on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Truist Financial started coverage on shares of Waystar in a research note on Friday, March 14th. They set a “buy” rating and a $45.00 price target on the stock. Canaccord Genuity Group boosted their target price on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Bank of America increased their price target on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their price objective on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and a consensus price target of $40.75.

About Waystar

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