Federated Hermes Inc. Raises Stake in Waystar Holding Corp. $WAY

Federated Hermes Inc. lifted its stake in Waystar Holding Corp. (NASDAQ:WAY) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 873,992 shares of the company’s stock after purchasing an additional 72,274 shares during the period. Federated Hermes Inc.’s holdings in Waystar were worth $33,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WAY. Munro Partners raised its stake in Waystar by 107.5% in the third quarter. Munro Partners now owns 178,890 shares of the company’s stock worth $6,784,000 after buying an additional 92,695 shares in the last quarter. Oak Ridge Investments LLC bought a new position in shares of Waystar in the 3rd quarter worth $2,139,000. Louisiana State Employees Retirement System bought a new position in shares of Waystar in the 3rd quarter worth $1,703,000. New York State Teachers Retirement System purchased a new stake in shares of Waystar during the 3rd quarter worth $962,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Waystar during the second quarter valued at about $2,670,000.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Waystar in a research report on Wednesday, January 21st. Mizuho increased their target price on shares of Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. UBS Group began coverage on shares of Waystar in a report on Monday, December 15th. They issued a “buy” rating and a $41.00 price target on the stock. BMO Capital Markets started coverage on Waystar in a research report on Thursday, November 13th. They set an “outperform” rating and a $47.00 price target on the stock. Finally, Zacks Research lowered Waystar from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Waystar currently has a consensus rating of “Buy” and a consensus price target of $46.64.

Insider Activity

In other news, CTO Christopher L. Schremser sold 8,623 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $30.41, for a total transaction of $262,225.43. Following the sale, the chief technology officer directly owned 422,371 shares of the company’s stock, valued at $12,844,302.11. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $30.08, for a total value of $1,209,968.00. Following the completion of the transaction, the insider owned 474,826 shares of the company’s stock, valued at $14,282,766.08. This trade represents a 7.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 80,273 shares of company stock valued at $2,569,997 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Waystar Stock Down 0.6%

NASDAQ:WAY opened at $26.56 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. Waystar Holding Corp. has a twelve month low of $26.20 and a twelve month high of $48.11. The company has a market cap of $5.08 billion, a PE ratio of 42.84, a P/E/G ratio of 0.33 and a beta of 0.76. The company’s 50 day moving average is $32.33 and its two-hundred day moving average is $35.31.

Waystar Company Profile

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.