Ieq Capital LLC Acquires Shares of 55,155 Waystar Holding Corp. $WAY

Key Points

• Ieq Capital LLC acquired 55,155 shares of Waystar Holding Corp. valued at approximately $2,061,000 during Q1, marking a significant investment in the company.
• Several research firms have rated Waystar positively, with Mizuho initiating coverage with an "outperform" rating and a target price of $48.00, while the consensus rating is a "Buy" with an average target price of $44.73.
• Waystar's CEO sold a total of 132,667 shares of the company's stock in recent transactions, which indicates a 5.76% decrease in his holdings.

Ieq Capital LLC purchased a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 55,155 shares of the company's stock, valued at approximately $2,061,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WAY. First Trust Advisors LP lifted its position in Waystar by 3.4% during the fourth quarter. First Trust Advisors LP now owns 55,430 shares of the company's stock valued at $2,034,000 after buying an additional 1,842 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Waystar by 21.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,271 shares of the company's stock worth $634,000 after purchasing an additional 3,070 shares in the last quarter. Northern Trust Corp lifted its position in shares of Waystar by 4.9% during the fourth quarter. Northern Trust Corp now owns 376,005 shares of the company's stock worth $13,799,000 after purchasing an additional 17,398 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Waystar during the fourth quarter worth $503,000. Finally, Comerica Bank increased its stake in shares of Waystar by 3,523.5% in the fourth quarter. Comerica Bank now owns 42,467 shares of the company's stock worth $1,559,000 after buying an additional 41,295 shares during the last quarter.

Insiders Place Their Bets

In other Waystar news, CEO Matthew J. Hawkins sold 46,667 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 764,131 shares of the company's stock, valued at approximately $26,484,780.46. This represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $37.01, for a total transaction of $125,834.00. Following the completion of the sale, the chief marketing officer directly owned 193,261 shares of the company's stock, valued at $7,152,589.61. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 246,411 shares of company stock valued at $9,110,688. Corporate insiders own 4.10% of the company's stock.

Waystar Price Performance

WAY stock traded down $0.23 during trading on Thursday, hitting $37.23. The company had a trading volume of 837,627 shares, compared to its average volume of 1,834,241. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 77.56, a P/E/G ratio of 0.69 and a beta of 0.78. The business has a 50 day moving average of $36.86 and a 200 day moving average of $38.14. Waystar Holding Corp. has a fifty-two week low of $25.76 and a fifty-two week high of $48.11. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The company's quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior 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, research analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on WAY. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Truist Financial upped 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. Citigroup began coverage on shares of Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target for the company. Finally, Mizuho began coverage on shares of Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. Based on data from MarketBeat, Waystar has an average rating of "Buy" and an average target price of $44.73.

Waystar Company Profile

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