Illinois Municipal Retirement Fund Cuts Stock Holdings in Waystar Holding Corp. $WAY

Illinois Municipal Retirement Fund trimmed its stake in Waystar Holding Corp. (NASDAQ:WAY) by 47.5% during the 1st quarter, Holdings Channel reports. The firm owned 77,486 shares of the company’s stock after selling 70,064 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Waystar were worth $1,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Advent International L.P. bought a new stake in Waystar during the fourth quarter valued at approximately $362,212,000. Alliancebernstein L.P. raised its position in shares of Waystar by 3,883.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after buying an additional 3,186,869 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Waystar by 4,717.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,814,648 shares of the company’s stock valued at $68,811,000 after buying an additional 1,776,979 shares in the last quarter. Bamco Inc. NY bought a new stake in shares of Waystar during the 4th quarter worth $45,642,000. Finally, Norges Bank purchased a new position in Waystar in the fourth quarter worth $44,627,000.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WAY shares. Raymond James Financial restated a “strong-buy” rating and set a $32.00 price target on shares of Waystar in a research report on Thursday, April 30th. Bank of America cut their price objective on Waystar from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 10th. Weiss Ratings cut Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Citigroup restated a “market outperform” rating on shares of Waystar in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 target price on shares of Waystar in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.23.

Waystar Stock Down 0.8%

WAY opened at $22.09 on Tuesday. The company has a market cap of $4.24 billion, a P/E ratio of 32.97, a P/E/G ratio of 0.88 and a beta of 0.08. The business’s 50-day moving average price is $20.22 and its 200-day moving average price is $23.81. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.37. Waystar Holding Corp. has a 12 month low of $17.26 and a 12 month high of $41.47.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, April 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $313.87 million during the quarter, compared to analysts’ expectations of $311.74 million. Waystar had a return on equity of 6.99% and a net margin of 10.90%.Waystar’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. Waystar has set its FY 2026 guidance at 1.590-1.680 EPS. On average, equities analysts expect that Waystar Holding Corp. will post 1.46 EPS for the current year.

About Waystar

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.