Canada Pension Plan Investment Board Invests $800 Million in Waystar Holding Corp. (NASDAQ:WAY)

Canada Pension Plan Investment Board bought a new stake in Waystar Holding Corp. (NASDAQ:WAY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 37,209,454 shares of the company’s stock, valued at approximately $800,003,000. Waystar accounts for 0.8% of Canada Pension Plan Investment Board’s holdings, making the stock its 24th largest position. Canada Pension Plan Investment Board owned approximately 22.33% of Waystar at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of WAY. Federated Hermes Inc. bought a new position in shares of Waystar during the 2nd quarter worth approximately $430,000. American Century Companies Inc. acquired a new position in shares of Waystar during the 2nd quarter valued at $28,357,000. TD Asset Management Inc bought a new position in Waystar during the second quarter worth $1,633,000. Finally, Peregrine Capital Management LLC bought a new position in Waystar during the second quarter worth $9,010,000.

Analyst Ratings Changes

Several brokerages have recently weighed in on WAY. Evercore ISI upped their price objective on shares of Waystar from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Canaccord Genuity Group began coverage on Waystar in a report on Tuesday, July 2nd. They issued a “buy” rating and a $30.00 price target on the stock. Bank of America started coverage on Waystar in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $27.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Canaccord Genuity Group assumed coverage on Waystar in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $30.00 price objective for the company. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $28.90.

Waystar Price Performance

Shares of NASDAQ:WAY opened at $27.01 on Friday. The stock’s 50-day simple moving average is $24.86. Waystar Holding Corp. has a twelve month low of $20.26 and a twelve month high of $28.57.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $234.50 million during the quarter, compared to analysts’ expectations of $216.25 million. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Analysts predict that Waystar Holding Corp. will post -0.08 EPS for the current fiscal year.

Waystar Profile

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