Adage Capital Partners GP L.L.C. Lowers Stock Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Adage Capital Partners GP L.L.C. trimmed its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 581,044 shares of the company's stock after selling 26,951 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.34% of Waystar worth $21,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC bought a new position in Waystar in the 4th quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC acquired a new position in Waystar in the 4th quarter worth $48,000. Pictet Asset Management Holding SA acquired a new position in Waystar in the 4th quarter worth $237,000. Dakota Wealth Management acquired a new position in Waystar in the 4th quarter worth $264,000. Finally, Stifel Financial Corp bought a new stake in Waystar during the 3rd quarter worth about $204,000.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WAY. The Goldman Sachs Group upped their target price on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Bank of America boosted their price target on Waystar from $36.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Canaccord Genuity Group boosted their price target on Waystar from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Jefferies Financial Group began coverage on Waystar in a report on Tuesday, February 11th. They set a "buy" rating and a $51.00 price target for the company. Finally, Barclays lowered their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $40.33.

Insider Transactions at Waystar

In related news, CEO Matthew J. Hawkins sold 46,667 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $36.36, for a total value of $1,696,812.12. Following the transaction, the chief executive officer now directly owns 500,000 shares of the company's stock, valued at approximately $18,180,000. The trade was a 8.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the company'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 sale, the insider now directly owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. This trade represents a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,411,461 shares of company stock worth $528,743,995 in the last quarter.

Waystar Stock Up 1.1 %

Shares of Waystar stock traded up $0.39 on Tuesday, hitting $37.03. 1,568,280 shares of the company's stock traded hands, compared to its average volume of 1,379,442. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $48.11. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $37.94 and a two-hundred day moving average of $35.84.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million for the quarter, compared to the consensus estimate of $232.29 million. Sell-side analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Waystar Company Profile

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