FORA Capital LLC Invests $891,000 in Waystar Holding Corp. $WAY

Key Points

• FORA Capital LLC has acquired a new stake in Waystar Holding Corp., purchasing 23,861 shares valued at approximately $891,000.
• Waystar's latest earnings report exceeded expectations, with an earnings per share of $0.36 compared to the consensus estimate of $0.33, and revenue rose 15.4% year-over-year.
• Analysts maintain a generally positive outlook on Waystar, with a consensus rating of "Buy" and a target price averaging $44.73.

FORA Capital LLC purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 23,861 shares of the company's stock, valued at approximately $891,000.

Several other institutional investors have also recently made changes to their positions in WAY. Invesco Ltd. grew its position in Waystar by 10.1% in the fourth quarter. Invesco Ltd. now owns 22,160 shares of the company's stock worth $813,000 after acquiring an additional 2,036 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Waystar in the 4th quarter valued at $1,504,000. First Trust Advisors LP grew its holdings in shares of Waystar by 3.4% during the 4th quarter. First Trust Advisors LP now owns 55,430 shares of the company's stock worth $2,034,000 after purchasing an additional 1,842 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Waystar by 6.8% during the 4th quarter. MetLife Investment Management LLC now owns 26,493 shares of the company's stock worth $972,000 after purchasing an additional 1,678 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Waystar by 21.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,271 shares of the company's stock worth $634,000 after purchasing an additional 3,070 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Matthew J. Hawkins sold 46,667 shares of the business'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 transaction, the chief executive officer directly owned 764,131 shares of the company's stock, valued at approximately $26,484,780.46. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider T. Craig Bridge sold 85,000 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was 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 $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 90 days, insiders sold 246,411 shares of company stock valued at $9,110,688. Company insiders own 4.10% of the company's stock.

Waystar Stock Down 2.2%

WAY traded down $0.84 during trading hours on Tuesday, hitting $37.04. 1,388,355 shares of the company's stock were exchanged, compared to its average volume of 1,540,843. The firm has a market cap of $6.45 billion, a P/E ratio of 77.17, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78. Waystar Holding Corp. has a 12-month low of $25.76 and a 12-month high of $48.11. 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 firm has a 50 day moving average of $36.89 and a 200 day moving average of $38.14.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly 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 business had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The company's quarterly revenue was up 15.4% compared to the same quarter last year. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. Analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Waystar Company Profile

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