Caisse DE Depot ET Placement DU Quebec Decreases Holdings in Waystar Holding Corp. $WAY

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its stake in Waystar Holding Corp. by 16.4%, selling 28,212 shares and retaining approximately 0.08% ownership, valued at $5.38 million.
• Analysts have issued mostly positive ratings for Waystar, with a consensus rating of "Buy" and an average price target of $44.73, although Canaccord Genuity recently lowered their price target from $50 to $47.
• Waystar reported better than expected quarterly earnings with a revenue increase of 15.4% year-over-year, achieving $270.65 million in revenue and an EPS of $0.36.

Caisse DE Depot ET Placement DU Quebec trimmed its position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 144,000 shares of the company's stock after selling 28,212 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.08% of Waystar worth $5,380,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Waystar by 170.4% during the 1st quarter. Victory Capital Management Inc. now owns 178,024 shares of the company's stock valued at $6,651,000 after acquiring an additional 112,179 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Waystar by 107.9% during the 1st quarter. Teacher Retirement System of Texas now owns 40,042 shares of the company's stock valued at $1,496,000 after acquiring an additional 20,780 shares in the last quarter. Amalgamated Bank boosted its position in Waystar by 84.1% during the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after acquiring an additional 1,241 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Waystar by 62.1% during the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock valued at $302,263,000 after purchasing an additional 3,099,211 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Waystar during the first quarter valued at approximately $212,000.

Wall Street Analysts Forecast Growth

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

Waystar Stock Down 1.8%

NASDAQ WAY traded down $0.69 during mid-day trading on Tuesday, reaching $37.20. The stock had a trading volume of 855,416 shares, compared to its average volume of 1,840,119. Waystar Holding Corp. has a 1 year low of $25.76 and a 1 year high of $48.11. The stock has a market cap of $6.48 billion, a PE ratio of 77.36, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78. The company has a fifty day moving average price of $36.92 and a 200 day moving average price of $38.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.43 and a quick ratio of 3.43.

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

Insider Activity

In related news, insider T. Craig Bridge sold 85,000 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $37.09, for a total value of $3,152,650.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $34.49, for a total transaction of $297,407.27. Following the sale, the chief technology officer owned 438,044 shares of the company's stock, valued at approximately $15,108,137.56. This 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 quarter. Insiders own 4.10% of the company's stock.

Waystar Company Profile

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