Principal Financial Group Inc. Acquires 636,521 Shares of Waystar Holding Corp. $WAY

Principal Financial Group Inc. boosted its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 443.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 779,971 shares of the company’s stock after acquiring an additional 636,521 shares during the quarter. Principal Financial Group Inc. owned about 0.41% of Waystar worth $29,577,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WAY. Salomon & Ludwin LLC purchased a new position in shares of Waystar in the 3rd quarter worth approximately $25,000. First Horizon Corp bought a new stake in Waystar in the third quarter worth $38,000. Nisa Investment Advisors LLC boosted its stake in Waystar by 50.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after buying an additional 358 shares during the period. EverSource Wealth Advisors LLC increased its position in Waystar by 3,219.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after acquiring an additional 1,352 shares during the last quarter. Finally, State of Wyoming raised 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 during the period.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WAY. Wells Fargo & Company started 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. BMO Capital Markets assumed 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. Needham & Company LLC initiated coverage on Waystar in a report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 price target on the stock. Citigroup dropped their price objective on Waystar from $49.00 to $46.00 and set a “buy” rating for the company in a report on Friday, January 9th. Finally, Leerink Partners assumed coverage on Waystar in a research report on Monday, February 2nd. They issued an “outperform” rating and a $43.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $45.87.

Waystar Stock Performance

Waystar stock opened at $24.30 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89. The company has a market capitalization of $4.65 billion, a PE ratio of 39.19, a P/E/G ratio of 0.30 and a beta of 0.75. The company has a 50 day moving average price of $31.11 and a 200-day moving average price of $34.87. Waystar Holding Corp. has a fifty-two week low of $23.23 and a fifty-two week high of $48.11.

Insider Buying and Selling at Waystar

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total value of $125,800.00. Following the completion of the sale, the chief marketing officer directly owned 193,261 shares in the company, valued at $7,150,657. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $30.41, for a total transaction of $262,225.43. Following the transaction, the chief technology officer owned 422,371 shares in the company, valued at approximately $12,844,302.11. The trade was a 2.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 80,273 shares of company stock valued at $2,569,997 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

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.