Hsbc Holdings PLC Buys Shares of 187,312 Waystar Holding Corp. $WAY

Key Points

• HSBC Holdings acquired 187,312 shares of Waystar, valued at approximately $3.85 million, giving it a 0.10% stake. Several other institutional investors also significantly increased their positions.
• Waystar reported quarterly EPS of $0.43, beating estimates by $0.03, while revenue rose 18.1% year over year to $319.67 million. Shares recently traded at $26.24, with a market capitalization of about $5.03 billion.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and a $35.39 price target, although several firms lowered their targets. CEO Matthew J. Hawkins separately sold 60,038 shares under a pre-arranged trading plan.

Hsbc Holdings PLC purchased a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 187,312 shares of the company's stock, valued at approximately $3,846,000. Hsbc Holdings PLC owned 0.10% of Waystar at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Root Financial Partners LLC raised its holdings in Waystar by 6,475.0% during the first quarter. Root Financial Partners LLC now owns 1,052 shares of the company's stock worth $25,000 after purchasing an additional 1,036 shares during the last quarter. Essential Partners LLC grew its holdings in Waystar by 1,432.7% in the first quarter. Essential Partners LLC now owns 1,548 shares of the company's stock valued at $37,000 after purchasing an additional 1,447 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Waystar by 6,005.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company's stock valued at $38,000 after buying an additional 1,141 shares in the last quarter. Danske Bank A S acquired a new position in shares of Waystar during the 4th quarter worth $52,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Waystar by 3,219.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock worth $57,000 after buying an additional 1,352 shares during the last quarter.

Waystar Stock Performance

Shares of NASDAQ WAY opened at $26.24 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $5.03 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 1.02 and a beta of 0.06. The company has a 50-day simple moving average of $22.87 and a 200-day simple moving average of $22.69. Waystar Holding Corp. has a 12 month low of $17.26 and a 12 month high of $41.47.

Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The firm had revenue of $319.67 million during the quarter, compared to analysts' expectations of $316.21 million. During the same period in the previous year, the company earned $0.36 EPS. Waystar's revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities analysts anticipate that Waystar Holding Corp. will post 1.47 earnings per share for the current year.

Analyst Ratings Changes

WAY has been the subject of a number of research reports. KeyCorp restated an "overweight" rating on shares of Waystar in a research report on Friday, July 31st. Truist Financial dropped their price objective on shares of Waystar from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. Weiss Ratings downgraded Waystar from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, June 24th. UBS Group reduced their target price on Waystar from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Waystar in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.39.

Insider Activity at Waystar

In other news, CEO Matthew J. Hawkins sold 60,038 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the transaction, the chief executive officer directly owned 1,835,081 shares in the company, valued at $45,895,375.81. This represents a 3.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.50% of the stock is currently owned by corporate insiders.

About Waystar

Waystar NASDAQ: WAY is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company's unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar's offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.

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