Oak Ridge Investments LLC Makes New Investment in Waystar Holding Corp. $WAY

Oak Ridge Investments LLC acquired a new stake in Waystar Holding Corp. (NASDAQ:WAY) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 56,399 shares of the company’s stock, valued at approximately $2,139,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in shares of Waystar during the third quarter worth about $25,000. First Horizon Corp acquired a new stake in shares of Waystar during the third quarter worth $38,000. Nisa Investment Advisors LLC boosted its stake in Waystar by 50.6% in 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 during the period. EverSource Wealth Advisors LLC increased its holdings in Waystar by 3,219.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $57,000 after purchasing an additional 1,352 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Waystar by 515.8% in the 3rd quarter. CWM LLC now owns 2,100 shares of the company’s stock valued at $80,000 after purchasing an additional 1,759 shares during the period.

Waystar Price Performance

NASDAQ:WAY opened at $30.27 on Friday. Waystar Holding Corp. has a one year low of $29.40 and a one year high of $48.11. The company has a market cap of $5.79 billion, a P/E ratio of 48.82, a P/E/G ratio of 0.38 and a beta of 0.76. The firm’s fifty day moving average price is $33.67 and its two-hundred day moving average price is $35.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.89.

Insider Activity at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total value of $125,800.00. Following the transaction, the chief marketing officer directly owned 193,261 shares of the company’s stock, valued at $7,150,657. This represents a 1.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 9,701 shares of Waystar stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $32.82, for a total value of $318,386.82. Following the sale, the insider directly owned 474,826 shares of the company’s stock, valued at $15,583,789.32. This represents a 2.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 49,749 shares of company stock worth $1,718,384 in the last ninety days. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on WAY. BMO Capital Markets began coverage on Waystar in a report on Thursday, November 13th. They set an “outperform” rating and a $47.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of Waystar in a research note on Thursday, January 8th. They set an “overweight” rating and a $41.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Waystar in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Waystar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Barclays reduced their price objective on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $46.64.

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.