Hsbc Holdings PLC Cuts Position in Waystar Holding Corp. $WAY

Key Points

• HSBC reduced its Waystar stake by 19.7% in the second quarter, selling 46,054 shares and retaining 187,312 shares worth approximately $3.85 million.
• Waystar reported a quarterly earnings and revenue beat, posting $0.43 EPS on $319.67 million in revenue, with revenue up 18.1% year over year.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $35.14, while Waystar shares recently opened at $23.06.

Hsbc Holdings PLC lowered its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 19.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 187,312 shares of the company's stock after selling 46,054 shares during the quarter. Hsbc Holdings PLC owned 0.10% of Waystar worth $3,846,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in WAY. Kennedy Capital Management LLC lifted its stake in shares of Waystar by 0.5% in the fourth quarter. Kennedy Capital Management LLC now owns 106,207 shares of the company's stock valued at $3,478,000 after purchasing an additional 559 shares during the period. Pacer Advisors Inc. lifted its position in shares of Waystar by 22.1% in the fourth quarter. Pacer Advisors Inc. now owns 3,144 shares of the company's stock valued at $103,000 after acquiring an additional 569 shares in the last quarter. State of Wyoming lifted its position in shares of Waystar by 45.1% in the second quarter. State of Wyoming now owns 2,098 shares of the company's stock valued at $86,000 after acquiring an additional 652 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Waystar by 3.7% during the fourth quarter. ProShare Advisors LLC now owns 21,474 shares of the company's stock valued at $703,000 after acquiring an additional 764 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its position in Waystar by 9.3% during the 4th quarter. Vinva Investment Management Ltd now owns 9,202 shares of the company's stock worth $301,000 after purchasing an additional 786 shares in the last quarter.

Waystar Stock Performance

Shares of WAY stock opened at $23.06 on Friday. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 0.93 and a beta of 0.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85. The company has a 50 day moving average price of $23.79 and a 200 day moving average price of $22.76. Waystar Holding Corp. has a one year low of $17.26 and a one year high of $40.35.

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

Insider Buying and Selling at Waystar

In other news, CEO Matthew Hawkins sold 82,500 shares of the business's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $25.97, for a total transaction of $2,142,525.00. Following the completion of the sale, the chief executive officer owned 1,804,794 shares in the company, valued at approximately $46,870,500.18. The trade was a 4.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 165,000 shares of company stock valued at $4,206,524. Insiders own 3.50% of the company's stock.

Analyst Upgrades and Downgrades

WAY has been the topic of a number of recent research reports. Canaccord Genuity Group upped their target price on shares of Waystar from $30.00 to $33.00 and gave the company a "buy" rating in a report on Monday, August 31st. UBS Group cut their price objective on shares of Waystar from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Barclays upped their price objective on shares of Waystar from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Wall Street Zen lowered shares of Waystar from a "buy" rating to a "hold" rating in a research report on Sunday, May 24th. Finally, Weiss Ratings upgraded Waystar from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.14.

Waystar Profile

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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