Entropy Technologies LP Buys 12,903 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Key Points

• Entropy Technologies LP significantly increased its position in Waystar by 163.9%, acquiring an additional 12,903 shares, bringing its total holdings to 20,777 shares valued at approximately $776,000.
• Several institutional investors, including Vanguard Group and Invesco Ltd., have also boosted their stakes in Waystar, indicating strong investor interest in the company.
• Analysts have a consensus rating of "Buy" for Waystar, with price targets ranging from $45.00 to $51.00, demonstrating positive expectations for the stock's future performance.

Entropy Technologies LP raised its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 163.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,777 shares of the company's stock after purchasing an additional 12,903 shares during the period. Entropy Technologies LP's holdings in Waystar were worth $776,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in WAY. Victory Capital Management Inc. raised its holdings in shares of 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 purchasing an additional 112,179 shares during the period. Teacher Retirement System of Texas increased its position in Waystar by 107.9% in the first quarter. Teacher Retirement System of Texas now owns 40,042 shares of the company's stock worth $1,496,000 after buying an additional 20,780 shares during the period. 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 buying an additional 1,241 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Waystar in the first quarter worth $212,000. Finally, Deutsche Bank AG increased its position in Waystar by 64.9% in the fourth quarter. Deutsche Bank AG now owns 34,847 shares of the company's stock worth $1,279,000 after buying an additional 13,715 shares during the period.

Waystar Trading Up 0.5%

Shares of WAY traded up $0.17 during midday trading on Thursday, hitting $35.52. The stock had a trading volume of 1,268,987 shares, compared to its average volume of 1,783,794. Waystar Holding Corp. has a fifty-two week low of $24.57 and a fifty-two week high of $48.11. The business has a 50-day simple moving average of $37.54 and a two-hundred day simple moving average of $38.64. The firm has a market cap of $6.19 billion, a P/E ratio of 74.00, a price-to-earnings-growth ratio of 0.65 and a beta of 0.79. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39.

Waystar (NASDAQ:WAY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.36 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 company had revenue of $270.65 million during the quarter, compared to analysts' expectations of $255.26 million. During the same period last year, the company posted $0.04 earnings per share. The business's revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Canaccord Genuity Group dropped their target price on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Truist Financial increased 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. Mizuho initiated coverage on Waystar in a research report on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price on the stock. TD Cowen raised Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Citigroup initiated coverage on Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target on the stock. Twelve research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $42.31.

Insiders Place Their Bets

In other Waystar news, CEO Matthew J. Hawkins sold 46,667 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $34.66, for a total transaction of $1,617,478.22. Following the completion of the sale, the chief executive officer directly owned 764,131 shares in the company, valued at approximately $26,484,780.46. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider T. Craig Bridge sold 85,000 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $37.09, for a total value of $3,152,650.00. Following the sale, the insider owned 682,843 shares of the company's stock, valued at $25,326,646.87. The trade was a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,775,326 shares of company stock valued at $328,506,609. 4.10% of the stock is owned by insiders.

About Waystar

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