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 on Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the sale, the insider now directly owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. This trade represents a 20.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Waystar Trading Up 0.2 %

Shares of NASDAQ WAY opened at $42.45 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The firm has a fifty day simple moving average of $39.69 and a 200 day simple moving average of $32.50. Waystar Holding Corp. has a twelve month low of $20.26 and a twelve month high of $48.11.

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

Analysts Set New Price Targets

WAY has been the subject of several research reports. Royal Bank of Canada lifted their price target on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays lifted their target price on shares of Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group began coverage on shares of Waystar in a report on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price on the stock. Evercore ISI raised their price target on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Waystar presently has a consensus rating of “Buy” and a consensus price target of $40.36.

Hedge Funds Weigh In On Waystar

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Waystar in the 4th quarter valued at $119,387,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Waystar in the fourth quarter worth $56,804,000. Farallon Capital Management LLC acquired a new stake in Waystar in the fourth quarter worth $49,251,000. Vanguard Group Inc. increased its stake in Waystar by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock valued at $183,182,000 after purchasing an additional 1,054,180 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Waystar by 697.5% during the third quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock valued at $30,724,000 after purchasing an additional 963,316 shares during the period.

Waystar Company Profile

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