Harbour Capital Advisors LLC Takes $303,000 Position in Waystar Holding Corp. $WAY

Key Points

• Harbour Capital Advisors LLC made a significant investment of $303,000 in Waystar Holding Corp., acquiring 7,830 shares during the second quarter.
• Insider sales included Director Paul G. Moskowitz offloading over 4 million shares for approximately $168 million, resulting in a notable decrease in ownership.
• Waystar received multiple upgrades from brokerages, with analysts setting price targets ranging from $44.00 to $48.00 amid a consensus rating of "Buy."

Harbour Capital Advisors LLC purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,830 shares of the company's stock, valued at approximately $303,000.

A number of other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Waystar by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company's stock valued at $549,000 after acquiring an additional 304 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Waystar in the 2nd quarter valued at approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Waystar by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company's stock worth $901,000 after buying an additional 960 shares during the period. Legato Capital Management LLC raised its stake in shares of Waystar by 8.4% in the 1st quarter. Legato Capital Management LLC now owns 12,398 shares of the company's stock valued at $463,000 after buying an additional 960 shares in the last quarter. Finally, Amalgamated Bank increased 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 worth $101,000 after purchasing an additional 1,241 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have commented on WAY. JMP Securities started coverage on shares of Waystar in a report on Thursday, September 18th. They set a "market outperform" rating and a $48.00 target price on the stock. Mizuho initiated coverage on shares of Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price for the company. TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Wall Street Zen lowered Waystar from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Baird R W raised Waystar to a "strong-buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to data from MarketBeat, Waystar has a consensus rating of "Buy" and an average price target of $45.14.

Waystar Stock Up 1.1%

Waystar stock traded up $0.42 during mid-day trading on Tuesday, hitting $38.12. The company had a trading volume of 972,947 shares, compared to its average volume of 2,073,319. 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 stock's 50 day moving average price is $36.79 and its two-hundred day moving average price is $37.73. Waystar Holding Corp. has a 12 month low of $26.56 and a 12 month high of $48.11. The company has a market capitalization of $6.64 billion, a PE ratio of 79.56, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78.

Waystar (NASDAQ:WAY - Get Free Report) last released 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. The business had revenue of $270.65 million for the quarter, compared to the consensus estimate of $255.26 million. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The company's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, sell-side analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $40.49, for a total transaction of $674,806.34. Following the completion of the sale, the chief financial officer owned 354,512 shares in the company, valued at approximately $14,354,190.88. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $40.49, for a total value of $349,145.27. Following the sale, the chief technology officer owned 422,371 shares of the company's stock, valued at $17,101,801.79. This represents a 2.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,652,918 shares of company stock valued at $182,012,322. 4.10% of the stock is currently owned by corporate insiders.

Waystar Profile

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