Waystar Holding Corp. $WAY Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 2,923.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 882,427 shares of the company’s stock after purchasing an additional 853,239 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Waystar were worth $33,461,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH grew its stake in shares of Waystar by 99.1% in the 3rd quarter. Keybank National Association OH now owns 10,100 shares of the company’s stock worth $383,000 after purchasing an additional 5,026 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in Waystar during the third quarter valued at approximately $4,002,000. Arizona State Retirement System grew its holdings in shares of Waystar by 65.8% during the 3rd quarter. Arizona State Retirement System now owns 33,300 shares of the company’s stock valued at $1,263,000 after acquiring an additional 13,218 shares in the last quarter. New York State Common Retirement Fund increased its position in Waystar by 32.0% in the 3rd quarter. New York State Common Retirement Fund now owns 515,946 shares of the company’s stock worth $19,565,000 after purchasing an additional 125,199 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Waystar by 9.0% in the third quarter. Federated Hermes Inc. now owns 873,992 shares of the company’s stock valued at $33,142,000 after acquiring an additional 72,274 shares during the last quarter.

Waystar Stock Down 0.9%

NASDAQ:WAY opened at $26.33 on Tuesday. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $32.13 and a two-hundred day moving average price of $35.20. Waystar Holding Corp. has a 1 year low of $26.20 and a 1 year high of $48.11. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 0.33 and a beta of 0.76.

Insiders Place Their Bets

In other news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total value of $1,209,968.00. Following the sale, the insider owned 474,826 shares of the company’s stock, valued at $14,282,766.08. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $36.12, for a total value of $311,462.76. Following the sale, the chief technology officer owned 422,371 shares in the company, valued at $15,256,040.52. The trade was a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,273 shares of company stock valued at $2,569,997 in the last quarter. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BMO Capital Markets initiated coverage on Waystar in a report on Thursday, November 13th. They set an “outperform” rating and a $47.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Waystar in a research note on Wednesday, January 21st. Mizuho raised their price target on shares of Waystar from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. The Goldman Sachs Group set a $44.00 target price on shares of Waystar in a research note on Wednesday, January 14th. Finally, Zacks Research cut Waystar from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $46.40.

Waystar 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.