Simplicity Wealth LLC Makes New $784,000 Investment in Waystar Holding Corp. $WAY

Simplicity Wealth LLC acquired a new stake in Waystar Holding Corp. (NASDAQ:WAY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 38,183 shares of the company’s stock, valued at approximately $784,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WAY. Root Financial Partners LLC raised its stake in shares of Waystar by 6,475.0% during the 1st quarter. Root Financial Partners LLC now owns 1,052 shares of the company’s stock worth $25,000 after buying an additional 1,036 shares during the period. Smartleaf Asset Management LLC increased its holdings in Waystar by 6,005.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company’s stock worth $38,000 after acquiring an additional 1,141 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Waystar by 3,219.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $57,000 after acquiring an additional 1,352 shares in the last quarter. Essential Partners LLC raised its position in Waystar by 1,432.7% during the first quarter. Essential Partners LLC now owns 1,548 shares of the company’s stock worth $37,000 after acquiring an additional 1,447 shares during the period. Finally, Danske Bank A S acquired a new position in Waystar during the fourth quarter worth $52,000.

Insiders Place Their Bets

In other Waystar news, CEO Matthew J. Hawkins sold 60,038 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the transaction, the chief executive officer owned 1,835,081 shares of the company’s stock, valued at approximately $45,895,375.81. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.50% of the company’s stock.

Waystar Stock Performance

WAY opened at $24.78 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. The company’s 50 day simple moving average is $21.62 and its two-hundred day simple moving average is $22.73. Waystar Holding Corp. has a 1-year low of $17.26 and a 1-year high of $41.47. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 0.96 and a beta of 0.06.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Waystar from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Truist Financial decreased their price target on shares of Waystar from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $39.00 price objective on shares of Waystar in a report on Friday, July 31st. Finally, KeyCorp reiterated an “overweight” rating on shares of Waystar in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Waystar presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

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.