Modera Wealth Management LLC Acquires 50,362 Shares of Waystar Holding Corp. $WAY

Modera Wealth Management LLC bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 50,362 shares of the company’s stock, valued at approximately $1,276,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC raised its stake in Waystar by 6,475.0% in the first quarter. Root Financial Partners LLC now owns 1,052 shares of the company’s stock valued at $25,000 after buying an additional 1,036 shares in the last quarter. Essential Partners LLC lifted its holdings in Waystar by 1,432.7% during the 1st quarter. Essential Partners LLC now owns 1,548 shares of the company’s stock worth $37,000 after buying an additional 1,447 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Waystar by 20.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,692 shares of the company’s stock worth $68,000 after buying an additional 465 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Waystar by 18.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,782 shares of the company’s stock worth $70,000 after acquiring an additional 435 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Waystar during the 2nd quarter worth about $74,000.

Wall Street Analysts Forecast Growth

WAY has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of Waystar in a research report on Wednesday, August 26th. KeyCorp boosted their target price on Waystar from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. UBS Group lowered their price target on Waystar from $37.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Waystar in a research note on Tuesday, September 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 price target on shares of Waystar in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Waystar presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.90.

Waystar Price Performance

Shares of WAY opened at $28.00 on Monday. Waystar Holding Corp. has a 1-year low of $17.26 and a 1-year high of $38.10. The stock has a market cap of $5.37 billion, a PE ratio of 40.00, a price-to-earnings-growth ratio of 1.09 and a beta of 0.11. 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 firm has a fifty day moving average price of $26.17 and a 200 day moving average price of $23.98.

Insider Activity at Waystar

In other news, CEO Matthew Hawkins sold 82,500 shares of Waystar stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $26.23, for a total transaction of $2,163,975.00. Following the sale, the chief executive officer owned 1,804,794 shares in the company, valued at approximately $47,339,746.62. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 247,500 shares of company stock worth $6,370,499 in the last 90 days. 3.50% of the stock is currently owned by insiders.

Waystar Profile

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software designed to simplify administrative and financial processes across the healthcare industry. Its platform connects healthcare providers, health plans and patients, helping organizations manage revenue cycle operations and improve the flow of information and payments.

The company’s products and services include electronic claims management, eligibility and benefits verification, prior authorization, payment integrity, denial management, patient estimates and payments, billing automation, and healthcare analytics.