Waystar Holding Corp.
In the published model solve dated 2026-Q2, anchored at $23.38, Waystar Holding Corp. (WAY) is priced for +6.9% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
• Waystar runs the software that hospitals and clinics use to get paid, automating the revenue cycle in a market the company describes as plagued by ⟦"reimbursement complexity and collection challenges,"⟧ with two revenue streams: subscription and volume-based. • The defining disconnect is the price: the stock is valued as if growth has stopped, yet revenue grew about 22% in the latest quarter with net revenue retention of about 111%. • The biggest risk is the balance sheet and ownership overhan
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294 institutional managers reported holding WAY in 13F filings for the quarter ended 2026-03-31. 68 opened new positions that quarter. Held by CPP Investment Board, BlackRock, FMR (Fidelity), among others. On the short side, 12.6M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (6.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
Open-market insider buys at WAY over the trailing three years: 2024: 1 buy totaling $129k; 2026: 1 buy totaling $189k. 17 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
WAY's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2024-11-07 | +9.3% | +18.4% |
| 2025-02-19 | -3.4% | -16.1% |
| 2025-05-01 | +6.7% | -0.4% |
| 2025-07-31 | +3.7% | +3.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
WAY's latest 8-K filings: 2026-07-29 (items 2.02, 9.01); 2026-06-04 (items 5.07); 2026-04-29 (items 2.02, 9.01); 2026-02-17 (items 2.02, 9.01); 2026-02-06 (items 5.02).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.