Two Sigma Advisers LP Purchases New Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Two Sigma Advisers LP purchased a new stake in Waystar Holding Corp. (NASDAQ:WAY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,100 shares of the company’s stock, valued at approximately $517,000.

Other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its stake in shares of Waystar by 701.7% in the third quarter. Barclays PLC now owns 64,934 shares of the company’s stock valued at $1,811,000 after buying an additional 56,834 shares during the period. Deutsche Bank AG lifted its stake in Waystar by 64.9% during the fourth quarter. Deutsche Bank AG now owns 34,847 shares of the company’s stock worth $1,279,000 after purchasing an additional 13,715 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Waystar during the fourth quarter worth $1,504,000. M&T Bank Corp lifted its stake in Waystar by 16.7% during the fourth quarter. M&T Bank Corp now owns 74,390 shares of the company’s stock worth $2,730,000 after purchasing an additional 10,644 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Waystar by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company’s stock worth $13,862,000 after purchasing an additional 11,117 shares during the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on WAY. Canaccord Genuity Group cut their target price on Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Barclays cut their target price on Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group upped their target price on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Jefferies Financial Group began coverage on Waystar in a research note on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price for the company. Finally, Truist Financial set a $50.00 target price on Waystar and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $40.50.

Waystar Stock Up 0.1%

Shares of WAY opened at $39.83 on Wednesday. Waystar Holding Corp. has a 52 week low of $20.26 and a 52 week high of $48.11. The stock has a market capitalization of $6.89 billion and a price-to-earnings ratio of 442.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The stock has a fifty day moving average of $38.04 and a 200-day moving average of $37.68.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Christopher L. Schremser sold 8,623 shares of the firm’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $36.36, for a total transaction of $313,532.28. Following the completion of the transaction, the chief technology officer now directly owns 438,044 shares of the company’s stock, valued at $15,927,279.84. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Hawkins sold 46,667 shares of the firm’s stock in a transaction on Thursday, April 10th. The stock was 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. This represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,655,997 shares of company stock valued at $324,170,981 in the last three months. Insiders own 4.10% of the company’s stock.

About Waystar

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