Arizona State Retirement System Purchases New Stake in Waystar Holding Corp. (NASDAQ:WAY)

Arizona State Retirement System acquired a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,083 shares of the company's stock, valued at approximately $443,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WAY. Amalgamated Bank bought a new position in Waystar in the 3rd quarter worth about $41,000. RiverPark Advisors LLC purchased a new stake in Waystar during the third quarter valued at approximately $78,000. Jennison Associates LLC lifted its position in Waystar by 4.3% during the third quarter. Jennison Associates LLC now owns 1,129,164 shares of the company's stock valued at $31,492,000 after acquiring an additional 46,264 shares during the last quarter. Smithfield Trust Co purchased a new stake in Waystar during the third quarter valued at approximately $68,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Waystar during the third quarter valued at approximately $10,224,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Waystar from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Jefferies Financial Group started coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 price target on the stock. Truist Financial started coverage on shares of Waystar in a research report on Friday. They issued a "buy" rating and a $45.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, Raymond James upgraded shares of Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target on the stock in a research report on Friday, November 22nd. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $40.75.

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Waystar Price Performance

Waystar stock traded up $0.37 during trading on Tuesday, reaching $36.92. The company had a trading volume of 1,331,270 shares, compared to its average volume of 1,310,222. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11. The stock's 50 day moving average price is $40.11 and its two-hundred day moving average price is $33.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY - Get Free Report) last released its 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 company had revenue of $244.10 million during the quarter, compared to analysts' expectations of $232.29 million. As a group, sell-side analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Insider Activity at Waystar

In other news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the business's stock in a transaction on 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 transaction, the insider now directly owns 29,692,286 shares of the company's stock, valued at approximately $1,187,691,440. The trade was a 20.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider T. Craig Bridge sold 182,914 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the transaction, the insider now directly owns 519,658 shares in the company, valued at approximately $21,903,584.70. The trade was a 26.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,356,171 shares of company stock worth $526,733,651.

About Waystar

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