Legal & General Group Plc Makes New Investment in Waystar Holding Corp. $WAY

Legal & General Group Plc purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 258,131 shares of the company’s stock, valued at approximately $5,299,000.

A number of other institutional investors have also made changes to their positions in WAY. BlackRock Inc. acquired a new stake in Waystar in the 2nd quarter worth approximately $357,950,000. Advent International L.P. bought a new position in shares of Waystar in the fourth quarter valued at approximately $362,212,000. Alliancebernstein L.P. raised its position in shares of Waystar by 3,883.4% in the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after purchasing an additional 3,186,869 shares during the period. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Waystar in the second quarter worth $43,314,000. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Waystar by 4,717.4% in the third quarter. Alyeska Investment Group L.P. now owns 1,814,648 shares of the company’s stock worth $68,811,000 after buying an additional 1,776,979 shares during the last quarter.

Insider Activity at Waystar

In other news, CEO Matthew Hawkins sold 82,500 shares of Waystar stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $25.97, for a total transaction of $2,142,525.00. Following the sale, the chief executive officer owned 1,804,794 shares of the company’s stock, valued at approximately $46,870,500.18. This trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 165,000 shares of company stock valued at $4,206,524. 3.50% of the stock is currently owned by company insiders.

Waystar Price Performance

NASDAQ:WAY opened at $26.08 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. Waystar Holding Corp. has a one year low of $17.26 and a one year high of $41.47. The company has a fifty day moving average price of $23.47 and a 200 day moving average price of $22.77. The stock has a market cap of $5.00 billion, a P/E ratio of 37.26, a PEG ratio of 1.00 and a beta of 0.16.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The company had revenue of $319.67 million for the quarter, compared to the consensus estimate of $316.21 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue was up 18.1% compared to the same quarter last year. Analysts anticipate that Waystar Holding Corp. will post 1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WAY has been the topic of a number of research analyst reports. Truist Financial lowered their target price on shares of Waystar from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. UBS Group lowered their price target on Waystar from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Waystar in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $39.00 price objective on shares of Waystar in a research report on Friday, July 31st. Finally, Citigroup restated a “buy” rating on shares of Waystar in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.52.

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.