Canada Pension Plan Investment Sells 7,517,168 Shares of Waystar Holding Corp. (NASDAQ:WAY) Stock

Waystar Holding Corp. (NASDAQ:WAY) major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar 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 completion of the sale, the insider now owns 29,692,286 shares in the company, valued at $1,187,691,440. The trade was a 20.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Waystar Stock Performance

Shares of WAY opened at $42.45 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar Holding Corp. has a 52 week low of $20.26 and a 52 week high of $48.11. The firm’s 50-day simple moving average is $39.69 and its 200 day simple moving average is $32.50.

Waystar (NASDAQ:WAY) last posted its earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, beating the consensus estimate 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 forecast that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WAY. Canaccord Genuity Group raised their price objective on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday. Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Friday, November 22nd. Evercore ISI upped their price objective on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays raised their target price on shares of Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group began coverage on shares of Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price target for the company. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $40.36.

Institutional Investors Weigh In On Waystar

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Waystar by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock worth $183,182,000 after acquiring an additional 1,054,180 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Waystar by 2.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company’s stock worth $127,798,000 after purchasing an additional 79,944 shares in the last quarter. Norges Bank bought a new position in shares of Waystar during the fourth quarter worth approximately $119,387,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Waystar in the fourth quarter valued at approximately $56,804,000. Finally, American Century Companies Inc. boosted its stake in shares of Waystar by 0.4% in the fourth quarter. American Century Companies Inc. now owns 1,476,236 shares of the company’s stock valued at $54,178,000 after buying an additional 6,409 shares during the period.

Waystar Company Profile

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