Bank of America Corp DE Has $49.79 Million Stake in Waystar Holding Corp. $WAY

Key Points

• Bank of America increased its Waystar stake by 61.8% in the first quarter, acquiring 789,132 additional shares. Its 2.07 million shares were worth approximately $49.8 million, representing about 1.08% of the company.
• Waystar reported quarterly EPS of $0.43, exceeding the $0.40 consensus estimate, while revenue rose 18.1% year over year to $319.67 million. Shares opened at $24.30, with a 52-week range of $17.26 to $41.47.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $35.23, although JPMorgan recently cut its target to $38 and one analyst downgraded the stock to “Hold.”

Bank of America Corp DE lifted its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 61.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,065,258 shares of the company's stock after acquiring an additional 789,132 shares during the quarter. Bank of America Corp DE owned approximately 1.08% of Waystar worth $49,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Waystar by 11.3% in the first quarter. Royal Bank of Canada now owns 21,609 shares of the company's stock valued at $808,000 after buying an additional 2,195 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Waystar in the 1st quarter valued at about $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Waystar by 91.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,911 shares of the company's stock worth $1,753,000 after purchasing an additional 22,364 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Waystar during the 1st quarter worth about $234,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Waystar by 13.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 747,268 shares of the company's stock valued at $27,918,000 after purchasing an additional 88,256 shares during the period.

Analyst Ratings Changes

WAY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on Waystar from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Wall Street Zen lowered Waystar from a "buy" rating to a "hold" rating in a research note on Sunday, May 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $39.00 price objective on shares of Waystar in a research report on Friday, July 31st. Citigroup reiterated a "buy" rating on shares of Waystar in a research note on Monday, July 20th. Finally, KeyCorp restated an "overweight" rating on shares of Waystar in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.23.

Waystar Stock Down 1.6%

Shares of WAY opened at $24.30 on Wednesday. Waystar Holding Corp. has a 52 week low of $17.26 and a 52 week high of $41.47. The firm has a market cap of $4.66 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 0.96 and a beta of 0.06. The firm's 50-day simple moving average is $21.32 and its 200 day simple moving average is $22.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85.

Waystar (NASDAQ:WAY - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $319.67 million for the quarter, compared to the consensus estimate of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The firm's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, analysts forecast that Waystar Holding Corp. will post 1.47 earnings per share for the current year.

Waystar Company Profile

Waystar NASDAQ: WAY is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company's unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar's offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.

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