HMS Capital Management LLC Purchases Shares of 9,615 Waystar Holding Corp. $WAY

Key Points

• HMS Capital Management LLC acquired 9,615 shares of Waystar Holding Corp., with the investment valued at approximately $344,000.
• Several institutional investors, including Hsbc Holdings PLC and Northern Trust Corp, significantly increased their stakes in Waystar during the first quarter.
• Waystar reported earnings that exceeded expectations, with $0.36 earnings per share for the last quarter, beating the consensus estimate by $0.03.

HMS Capital Management LLC purchased a new stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,615 shares of the company's stock, valued at approximately $344,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new stake in Waystar in the 1st quarter valued at about $544,000. Hsbc Holdings PLC lifted its stake in Waystar by 575.1% during the first quarter. Hsbc Holdings PLC now owns 70,360 shares of the company's stock valued at $2,627,000 after buying an additional 59,938 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Waystar by 27.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,975,142 shares of the company's stock valued at $73,791,000 after buying an additional 427,337 shares in the last quarter. Quantbot Technologies LP lifted its stake in Waystar by 578.5% during the first quarter. Quantbot Technologies LP now owns 299,913 shares of the company's stock valued at $11,205,000 after buying an additional 255,708 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Waystar by 102.8% during the first quarter. Northern Trust Corp now owns 762,362 shares of the company's stock valued at $28,482,000 after buying an additional 386,357 shares in the last quarter.

Insider Buying and Selling at Waystar

In related news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $40.22, for a total transaction of $390,214.44. Following the transaction, the insider owned 490,870 shares of the company's stock, valued at approximately $19,742,791.40. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider T. Craig Bridge sold 85,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 682,843 shares in the company, valued at approximately $25,326,646.87. The trade was a 11.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 573,473 shares of company stock worth $21,822,153 in the last ninety days. Insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup assumed coverage on shares of Waystar in a research note on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective for the company. Truist Financial increased their price target on shares of Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Canaccord Genuity Group reduced their price target on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Mizuho assumed coverage on shares of Waystar in a research report on Monday, June 30th. They issued an "outperform" rating and a $48.00 price target for the company. Finally, TD Cowen raised shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $44.73.

Waystar Price Performance

Shares of WAY opened at $35.63 on Wednesday. The firm has a market cap of $6.21 billion, a PE ratio of 74.23, a PEG ratio of 0.66 and a beta of 0.79. The firm's 50 day moving average price is $37.25 and its 200 day moving average price is $38.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. Waystar Holding Corp. has a twelve month low of $25.76 and a twelve month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $270.65 million for the quarter, compared to analyst estimates of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The company's revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, research analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

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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