Illinois Municipal Retirement Fund Has $2.27 Million Stock Position in Waystar Holding Corp. $WAY

Illinois Municipal Retirement Fund boosted its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 231.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,775 shares of the company’s stock after buying an additional 41,731 shares during the period. Illinois Municipal Retirement Fund’s holdings in Waystar were worth $2,267,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new position in shares of Waystar in the third quarter worth approximately $25,000. First Horizon Corp acquired a new position in Waystar in the 3rd quarter worth approximately $38,000. Nisa Investment Advisors LLC grew its position in Waystar by 50.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after purchasing an additional 358 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Waystar by 3,219.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after purchasing an additional 1,352 shares during the period. Finally, CWM LLC lifted its holdings in shares of Waystar by 515.8% in the third quarter. CWM LLC now owns 2,100 shares of the company’s stock valued at $80,000 after purchasing an additional 1,759 shares in the last quarter.

Waystar Trading Up 3.1%

Shares of NASDAQ:WAY opened at $22.41 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89. The stock’s 50-day moving average is $29.66 and its 200-day moving average is $34.28. The company has a market cap of $4.29 billion, a P/E ratio of 36.15, a P/E/G ratio of 0.28 and a beta of 0.77. Waystar Holding Corp. has a 52-week low of $21.45 and a 52-week high of $48.11.

Insider Buying and Selling at Waystar

In related 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 transaction, the chief technology officer owned 422,371 shares of the company’s stock, valued at approximately $12,844,302.11. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $37.00, for a total transaction of $125,800.00. Following the completion of the sale, the chief marketing officer directly owned 193,261 shares of the company’s stock, valued at approximately $7,150,657. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 71,650 shares of company stock valued at $2,258,535 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Waystar from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Canaccord Genuity Group set a $54.00 target price on Waystar in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Waystar in a research report on Wednesday, January 21st. UBS Group assumed coverage on shares of Waystar in a report on Monday, December 15th. They set a “buy” rating and a $41.00 price target for the company. Finally, Needham & Company LLC assumed coverage on shares of Waystar in a research note on Tuesday, November 11th. They issued a “buy” rating and a $46.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $45.50.

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.