Canada Pension Plan Investment Sells 7,517,168 Shares of Waystar Holding Corp. (NASDAQ:WAY) Stock

Waystar Holding Corp. (NASDAQ:WAY) major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the sale, the insider now owns 29,692,286 shares of the company’s stock, valued at approximately $1,187,691,440. This represents a 20.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Waystar Stock Up 1.4 %

Waystar stock opened at $42.35 on Thursday. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11. The firm has a 50 day moving average of $39.55 and a 200 day moving average of $32.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analysts’ expectations of $232.29 million. On average, analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waystar

A number of hedge funds and other institutional investors have recently modified their holdings of WAY. Amalgamated Bank purchased a new stake in Waystar in the 3rd quarter worth $41,000. RiverPark Advisors LLC purchased a new stake in shares of Waystar during the 3rd quarter worth approximately $78,000. Jennison Associates LLC raised its stake in Waystar by 4.3% during the third quarter. Jennison Associates LLC now owns 1,129,164 shares of the company’s stock valued at $31,492,000 after purchasing an additional 46,264 shares in the last quarter. Smithfield Trust Co bought a new position in shares of Waystar in the 3rd quarter valued at about $68,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Waystar in the third quarter worth about $10,224,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on WAY shares. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Friday, November 22nd. Canaccord Genuity Group boosted their target price on Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada raised their price target on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Bank of America boosted their price objective on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group started coverage on shares of Waystar in a report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price on the stock. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Waystar presently has a consensus rating of “Buy” and an average target price of $40.36.

Waystar Company Profile

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.