Canada Pension Plan Investment Board Sells 7,517,168 Shares of Waystar Holding Corp. $WAY

Key Points

• The Canada Pension Plan Investment Board has reduced its stake in Waystar Holding Corp by 20.2%, now owning $1.11 billion worth of shares, which makes Waystar the 19th largest holding in their portfolio.
• Analysts have varying outlooks on Waystar, with Truist Financial raising its price target to $51.00 and Canaccord Genuity lowering it to $47.00, while the overall consensus remains a "Buy" with an average target price of $44.73.
• Waystar reported earnings of $0.36 per share for the last quarter, exceeding estimates, and has set FY 2025 guidance at 1.360-1.400 EPS, indicating a positive growth trajectory.

Canada Pension Plan Investment Board lessened its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 20.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,692,286 shares of the company's stock after selling 7,517,168 shares during the quarter. Waystar accounts for approximately 1.1% of Canada Pension Plan Investment Board's investment portfolio, making the stock its 19th biggest position. Canada Pension Plan Investment Board owned about 17.16% of Waystar worth $1,109,304,000 at the end of the most recent quarter.

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

Waystar Stock Up 0.5%

WAY traded up $0.20 during trading on Wednesday, reaching $37.24. The stock had a trading volume of 459,046 shares, compared to its average volume of 1,835,368. The stock's 50 day moving average is $36.89 and its two-hundred day moving average is $38.14. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 77.55, a P/E/G ratio of 0.69 and a beta of 0.78. Waystar Holding Corp. has a one year low of $25.76 and a one year high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The firm's quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. 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 year.

Insider Transactions at Waystar

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $37.01, for a total transaction of $125,834.00. Following the sale, the chief marketing officer directly owned 193,261 shares of the company's stock, valued at $7,152,589.61. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $34.49, for a total value of $297,407.27. Following the sale, the chief technology officer directly owned 438,044 shares in the company, valued at $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. In the last 90 days, insiders sold 246,411 shares of company stock valued at $9,110,688. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Waystar Profile

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