Kodai Capital Management LP Makes New Investment in Waystar Holding Corp. $WAY

Key Points

• Kodai Capital Management LP acquired 33,900 shares of Waystar Holding Corp., amounting to approximately $1,267,000 investment, highlighting increased institutional interest.
• Waystar reported $0.36 earnings per share for the last quarter, surpassing estimates and showing a 15.4% increase in quarterly revenue year-over-year.
• CEO Matthew J. Hawkins sold 46,667 shares of Waystar at an average price of $34.66, indicating a 5.76% decrease in his stock ownership post-sale.

Kodai Capital Management LP acquired a new stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 33,900 shares of the company's stock, valued at approximately $1,267,000.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Waystar by 170.4% in the first quarter. Victory Capital Management Inc. now owns 178,024 shares of the company's stock worth $6,651,000 after buying an additional 112,179 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Waystar by 107.9% in the first quarter. Teacher Retirement System of Texas now owns 40,042 shares of the company's stock worth $1,496,000 after buying an additional 20,780 shares during the period. Amalgamated Bank raised its holdings in shares of Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after buying an additional 1,241 shares during the period. Vanguard Group Inc. raised its holdings in shares of Waystar by 62.1% in the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock worth $302,263,000 after buying an additional 3,099,211 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Waystar in the first quarter worth approximately $212,000.

Insiders Place Their Bets

In related news, insider T. Craig Bridge sold 85,000 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the transaction, the insider directly owned 682,843 shares in the company, valued at $25,326,646.87. The trade was a 11.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $34.49, for a total value of $297,407.27. Following the transaction, the chief technology officer owned 438,044 shares in the company, valued at approximately $15,108,137.56. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,411 shares of company stock valued at $9,110,688 in the last 90 days. Corporate insiders own 4.10% of the company's stock.

Waystar Stock Down 1.1%

Shares of NASDAQ:WAY traded down $0.41 on Thursday, reaching $37.05. The company had a trading volume of 217,713 shares, compared to its average volume of 1,830,466. Waystar Holding Corp. has a 52-week low of $25.76 and a 52-week high of $48.11. The firm's 50 day simple moving average is $36.86 and its 200-day simple moving average is $38.14. The firm has a market capitalization of $6.46 billion, a PE ratio of 77.20, a PEG ratio of 0.69 and a beta of 0.78. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The business had revenue of $270.65 million for the quarter, compared to the consensus estimate of $255.26 million. During the same period last year, the business posted $0.04 EPS. The business's revenue was up 15.4% compared to the same quarter last year. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WAY shares. Truist Financial increased their price target on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Citigroup initiated coverage on Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective on the stock. TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Mizuho initiated coverage on Waystar in a report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $44.73.

About Waystar

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