Cerity Partners LLC Has $1.70 Million Stock Position in Waystar Holding Corp. (NASDAQ:WAY)

Cerity Partners LLC lowered its position in shares of Waystar Holding Corp. (NASDAQ:WAY) by 0.9% during the fourth quarter, Holdings Channel reports. The fund owned 46,279 shares of the company’s stock after selling 420 shares during the quarter. Cerity Partners LLC’s holdings in Waystar were worth $1,698,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WAY. Global Retirement Partners LLC acquired a new stake in Waystar during the 4th quarter worth about $25,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Waystar in the fourth quarter worth $48,000. Stifel Financial Corp acquired a new position in shares of Waystar in the third quarter worth $204,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Waystar during the third quarter worth $222,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Waystar during the fourth quarter valued at $237,000.

Waystar Price Performance

WAY stock opened at $36.71 on Thursday. The business’s 50-day simple moving average is $39.24 and its 200 day simple moving average is $35.22. 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 Holding Corp. has a twelve month low of $20.26 and a twelve month high of $48.11.

Waystar (NASDAQ:WAY) last issued its 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 firm had revenue of $244.10 million during the quarter, compared to analyst estimates of $232.29 million. Sell-side analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WAY. Jefferies Financial Group assumed coverage on Waystar in a research note on Tuesday, February 11th. They set a “buy” rating and a $51.00 price target for the company. Canaccord Genuity Group upped their price target on Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Barclays cut their price objective on Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial started coverage on Waystar in a research report on Friday, March 14th. They set a “buy” rating and a $45.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target 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. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.33.

Insider Transactions at Waystar

In related news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Hawkins sold 46,667 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 500,000 shares in the company, valued at $18,180,000. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,411,461 shares of company stock valued at $528,743,995.

Waystar Profile

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