State of Alaska Department of Revenue Invests $2.17 Million in Waystar Holding Corp. $WAY

State of Alaska Department of Revenue bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 57,150 shares of the company’s stock, valued at approximately $2,167,000.

Several other hedge funds have also added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its holdings in Waystar by 5.2% in the 2nd quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company’s stock valued at $289,000 after buying an additional 348 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after acquiring an additional 358 shares during the period. Carnegie Investment Counsel grew its stake in shares of Waystar by 9.4% in the third quarter. Carnegie Investment Counsel now owns 7,002 shares of the company’s stock valued at $266,000 after acquiring an additional 600 shares in the last quarter. State of Wyoming grew its stake in shares of Waystar by 45.1% in the second quarter. State of Wyoming now owns 2,098 shares of the company’s stock valued at $86,000 after acquiring an additional 652 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new position in Waystar during the third quarter worth about $25,000.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WAY shares. Canaccord Genuity Group set a $54.00 price objective on shares of Waystar in a report on Thursday, October 30th. Barclays cut their price target on Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, December 8th. Wells Fargo & Company assumed coverage on Waystar in a research report on Thursday, January 8th. They set an “overweight” rating and a $41.00 price target on the stock. Mizuho lifted their price objective on Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, BMO Capital Markets initiated coverage on Waystar in a research report on Thursday, November 13th. They set an “outperform” rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Waystar currently has a consensus rating of “Buy” and an average price target of $46.64.

Insider Transactions at Waystar

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $36.94, for a total transaction of $358,354.94. Following the completion of the transaction, the insider owned 474,826 shares of the company’s stock, valued at approximately $17,540,072.44. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $36.12, for a total transaction of $311,462.76. Following the completion of the transaction, the chief technology officer directly owned 422,371 shares of the company’s stock, valued at $15,256,040.52. This trade represents a 2.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 49,749 shares of company stock valued at $1,718,384. Corporate insiders own 4.10% of the company’s stock.

Waystar Stock Down 2.3%

Shares of WAY opened at $29.87 on Thursday. The firm has a 50 day simple moving average of $33.90 and a two-hundred day simple moving average of $36.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.89. 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 $5.71 billion, a P/E ratio of 48.18, a P/E/G ratio of 0.38 and a beta of 0.76.

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.