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 company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $40.00, for a total value of $300,686,720.00. Following the sale, the insider now owns 29,692,286 shares of the company’s stock, valued at $1,187,691,440. This represents a 20.20 % 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 this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Waystar Trading Up 1.4 %

Shares of NASDAQ:WAY traded up $0.58 during trading on Wednesday, hitting $42.35. The company’s stock had a trading volume of 2,486,116 shares, compared to its average volume of 1,984,511. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $39.40 and its two-hundred day moving average price is $32.36.

Waystar (NASDAQ:WAY) last announced its earnings results 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. As a group, analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Waystar in the 4th quarter valued at about $1,309,000. Squarepoint Ops LLC increased its holdings in Waystar by 0.8% in the fourth quarter. Squarepoint Ops LLC now owns 201,548 shares of the company’s stock valued at $7,397,000 after buying an additional 1,548 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Waystar in the fourth quarter valued at about $517,000. Two Sigma Investments LP raised its stake in Waystar by 652.1% during the fourth quarter. Two Sigma Investments LP now owns 150,186 shares of the company’s stock valued at $5,512,000 after buying an additional 130,218 shares in the last quarter. Finally, Sig Brokerage LP bought a new position in Waystar during the 4th quarter worth approximately $1,015,000.

Waystar Company Profile

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