Charles Schwab Investment Management Inc. Acquires 238,118 Shares of Waystar Holding Corp. $WAY

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Waystar Holding Corp. by 63%, buying an additional 238,118 shares, bringing its total ownership to approximately 615,828 shares worth $23 million.
• Several institutional investors are actively trading Waystar, with Vanguard Group increasing its position by 62.1% and Bank of America lifting its holdings by 263.2% in the last quarter.
• Analysts recommend a "buy" rating for Waystar, with the stock's average price target around $44.73, despite some analysts lowering their price objectives.

Charles Schwab Investment Management Inc. grew its stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 63.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 615,828 shares of the company's stock after acquiring an additional 238,118 shares during the period. Charles Schwab Investment Management Inc. owned about 0.36% of Waystar worth $23,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gen Wealth Partners Inc bought a new position in shares of Waystar during the 4th quarter valued at approximately $92,000. Amalgamated Bank grew its position in shares of 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 during the period. KBC Group NV bought a new position in shares of Waystar during the 1st quarter valued at approximately $109,000. RiverPark Advisors LLC grew its position in shares of Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock valued at $128,000 after acquiring an additional 710 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Waystar during the 1st quarter valued at approximately $212,000.

Waystar Price Performance

NASDAQ WAY traded up $0.04 on Wednesday, hitting $37.20. The stock had a trading volume of 18,530 shares, compared to its average volume of 1,832,119. Waystar Holding Corp. has a 52-week low of $25.76 and a 52-week high of $48.11. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 77.43, a price-to-earnings-growth ratio of 0.66 and a beta of 0.79. The firm has a 50-day moving average of $36.93 and a 200-day moving average of $38.35.

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

Wall Street Analysts Forecast Growth

WAY has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Waystar in a research note on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target on the stock. Truist Financial upped their price target on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Mizuho initiated coverage on shares of Waystar in a research note on Monday, June 30th. They set an "outperform" rating and a $48.00 price target on the stock. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Canaccord Genuity Group dropped their price target on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Two research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Waystar has a consensus rating of "Buy" and an average price target of $44.73.

Insider Activity at Waystar

In other news, insider T. Craig Bridge sold 85,000 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the sale, the insider owned 682,843 shares in the company, valued at approximately $25,326,646.87. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the firm'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 in the company, valued at approximately $15,108,137.56. This trade represents a 1.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,011 shares of company stock worth $8,984,854. Corporate insiders own 4.10% of the company's stock.

About Waystar

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