Canada Pension Plan Investment Board Purchases Shares of 19,025,452 Waystar Holding Corp. $WAY

Key Points

• Canada Pension Plan Investment Board acquired 19.03 million Waystar shares worth approximately $390.6 million, giving it a 9.92% stake in the healthcare payments company.
• Waystar reported quarterly EPS of $0.43, beating estimates by $0.03, while revenue rose 18.1% year over year to $319.67 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $35.
• Waystar shares opened at $24.21 after recently trading down 4.5%; meanwhile, CEO Matthew J. Hawkins sold 60,038 shares under a pre-arranged Rule 10b5-1 plan.

Canada Pension Plan Investment Board acquired a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,025,452 shares of the company's stock, valued at approximately $390,593,000. Canada Pension Plan Investment Board owned 9.92% of Waystar as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in WAY. Clarkston Capital Partners LLC acquired a new stake in Waystar during the first quarter valued at approximately $22,917,000. Hsbc Holdings PLC acquired a new position in shares of Waystar in the 1st quarter worth approximately $5,625,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Waystar in the 2nd quarter worth approximately $43,314,000. Perigon Wealth Management LLC bought a new position in shares of Waystar during the 2nd quarter worth approximately $878,000. Finally, Aurora Investment Counsel acquired a new stake in Waystar in the 2nd quarter valued at $1,765,000.

Waystar Trading Down 4.5%

Shares of WAY opened at $24.21 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 0.99 and a beta of 0.06. The stock has a fifty day moving average price of $22.46 and a two-hundred day moving average price of $22.66. Waystar Holding Corp. has a 52-week low of $17.26 and a 52-week high of $41.47.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WAY. KeyCorp reiterated an "overweight" rating on shares of Waystar in a research report on Friday, July 31st. Truist Financial reduced their target price on shares of Waystar from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Wolfe Research raised shares of Waystar to an "outperform" rating in a report on Thursday, August 13th. Barclays increased their target price on shares of Waystar from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $39.00 price target on shares of Waystar in a report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Insider Buying and Selling

In other Waystar news, CEO Matthew J. Hawkins sold 60,038 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $25.01, for a total value of $1,501,550.38. Following the completion of the sale, the chief executive officer owned 1,835,081 shares in the company, valued at approximately $45,895,375.81. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.50% of the stock is currently owned by corporate insiders.

Waystar 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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