CloudAlpha Capital Management Limited Hong Kong Acquires Shares of 279,540 Waystar Holding Corp. (NASDAQ:WAY)

Key Points

• CloudAlpha Capital Management Limited acquired 279,540 shares of Waystar Holding Corp., valued at approximately $10.4 million, making it the company's 20th biggest position with 0.8% of its portfolio.
• Waystar reported a quarterly revenue of $256.44 million, exceeding analysts' expectations, and its stock has an average price target of $42.31 with a majority of analyst ratings being "buy."
• Insider transactions included the sale of shares by CEO Matthew J. Hawkins and insider Eric L. Sinclair III, indicating company executives are liquidating portions of their holdings.

CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 279,540 shares of the company's stock, valued at approximately $10,444,000. Waystar accounts for 0.8% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 20th biggest position. CloudAlpha Capital Management Limited Hong Kong owned approximately 0.16% of Waystar as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Gen Wealth Partners Inc bought a new position in shares of Waystar in the fourth quarter valued at about $92,000. Amalgamated Bank increased its position in Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after purchasing an additional 1,241 shares during the period. KBC Group NV acquired a new stake in Waystar in the first quarter worth about $109,000. RiverPark Advisors LLC increased its position in Waystar by 25.5% in the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after purchasing an additional 710 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Waystar in the first quarter worth about $212,000.

Waystar Trading Up 0.1%

NASDAQ:WAY opened at $36.98 on Friday. The stock has a market capitalization of $6.44 billion and a PE ratio of 410.93. The business's 50-day simple moving average is $38.75 and its 200-day simple moving average is $38.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.12 and a quick ratio of 3.12. Waystar Holding Corp. has a fifty-two week low of $20.74 and a fifty-two week high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Waystar had a return on equity of 3.10% and a net margin of 2.67%. The company had revenue of $256.44 million for the quarter, compared to analysts' expectations of $248.47 million. The business's quarterly revenue was up 14.1% on a year-over-year basis. Sell-side analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WAY. Citigroup initiated coverage on Waystar in a research report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price objective for the company. Mizuho initiated coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price for the company. Canaccord Genuity Group decreased their target price on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. TD Cowen upgraded Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Truist Financial boosted their target price on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Twelve analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $42.31.

Insiders Place Their Bets

In related news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $37.10, for a total value of $359,944.20. Following the sale, the insider owned 490,870 shares in the company, valued at approximately $18,211,277. This represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $38.26, for a total value of $1,785,479.42. Following the transaction, the chief executive officer owned 764,131 shares in the company, valued at $29,235,652.06. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,778,726 shares of company stock worth $328,889,968 in the last quarter. 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.

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