Hsbc Holdings PLC Purchases 59,938 Shares of Waystar Holding Corp. $WAY

Key Points

• Hsbc Holdings PLC significantly increased its stake in Waystar Holding Corp. by acquiring an additional 59,938 shares, raising its total holdings to 70,360 shares valued at $2,627,000.
• Insider activity included CEO Matthew J. Hawkins selling 46,667 shares and another insider, T. Craig Bridge, selling 85,000 shares, suggesting notable trading among company executives.
• Waystar's latest earnings report exceeded expectations, showing a 15.4% year-over-year revenue increase and a quarterly EPS above analysts' consensus estimates.

Hsbc Holdings PLC increased its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 575.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,360 shares of the company's stock after acquiring an additional 59,938 shares during the quarter. Hsbc Holdings PLC's holdings in Waystar were worth $2,627,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WAY. Vanguard Group Inc. boosted its position in shares of Waystar by 62.1% in the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock valued at $302,263,000 after acquiring an additional 3,099,211 shares during the period. Invesco Ltd. boosted its position in shares of Waystar by 9,107.1% in the first quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock valued at $76,225,000 after acquiring an additional 2,018,125 shares during the period. Farallon Capital Management LLC bought a new position in shares of Waystar in the fourth quarter valued at approximately $49,251,000. Bank of America Corp DE boosted its position in shares of Waystar by 263.2% in the fourth quarter. Bank of America Corp DE now owns 1,104,189 shares of the company's stock valued at $40,524,000 after acquiring an additional 800,183 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in shares of Waystar by 75.3% in the first quarter. Lord Abbett & CO. LLC now owns 1,336,875 shares of the company's stock valued at $49,945,000 after acquiring an additional 574,295 shares during the period.

Insider Buying and Selling at Waystar

In related news, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $34.66, for a total value of $1,617,478.22. Following the transaction, the chief executive officer directly owned 764,131 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, insider T. Craig Bridge sold 85,000 shares of the company's stock in a transaction 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 sale, the insider owned 682,843 shares of the company's stock, valued at $25,326,646.87. This represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,011 shares of company stock valued at $8,984,854. Insiders own 4.10% of the company's stock.

Waystar Trading Up 3.5%

Shares of WAY opened at $37.16 on Wednesday. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 77.42, a PEG ratio of 0.66 and a beta of 0.79. 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 fifty-two week low of $25.76 and a fifty-two week high of $48.11. The firm has a 50 day moving average price of $36.93 and a 200-day moving average price of $38.35.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $270.65 million during 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 business's quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, equities research analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WAY. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Mizuho began 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. Canaccord Genuity Group dropped their target price 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. Citigroup began coverage on shares of Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 target price for the company. Finally, Truist Financial lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $44.73.

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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