Waystar Holding Corp. $WAY Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. significantly increased its stake in Waystar Holding Corp. by 9,107.1%, acquiring an additional 2,018,125 shares in the first quarter, bringing its total ownership to approximately 1.18% of the company.
• CEO Matthew J. Hawkins sold 197,847 shares of Waystar at an average price of $38.53, resulting in a 20.57% decrease in his ownership position.
• Waystar recently reported a revenue increase of 15.4% year-over-year, with earnings per share of $0.36, surpassing analysts' expectations.

Invesco Ltd. raised its stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 9,107.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,040,285 shares of the company's stock after acquiring an additional 2,018,125 shares during the quarter. Invesco Ltd. owned approximately 1.18% of Waystar worth $76,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Keystone Investors PTE Ltd. bought a new stake in Waystar during the 1st quarter valued at $852,000. Swiss National Bank boosted its position in Waystar by 62.7% during the 1st quarter. Swiss National Bank now owns 133,400 shares of the company's stock valued at $4,984,000 after acquiring an additional 51,400 shares in the last quarter. Deutsche Bank AG boosted its position in Waystar by 76.7% during the 1st quarter. Deutsche Bank AG now owns 61,560 shares of the company's stock valued at $2,300,000 after acquiring an additional 26,713 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Waystar by 63.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,828 shares of the company's stock valued at $23,007,000 after acquiring an additional 238,118 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Waystar by 62.1% during the 1st 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 in the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on the company. Mizuho assumed coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price on the stock. Citigroup began coverage on Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective for the company. Canaccord Genuity Group decreased their price objective on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Truist Financial increased their price objective on Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Waystar presently has an average rating of "Buy" and an average target price of $44.73.

Waystar Stock Performance

WAY stock traded up $0.66 during midday trading on Thursday, reaching $35.75. The stock had a trading volume of 1,932,228 shares, compared to its average volume of 1,761,240. The stock has a market cap of $6.23 billion, a PE ratio of 74.48, a P/E/G ratio of 0.64 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. The firm has a fifty day simple moving average of $37.06 and a two-hundred day simple moving average of $38.47. Waystar Holding Corp. has a 52-week low of $25.76 and a 52-week high of $48.11.

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

Insider Transactions at Waystar

In related news, insider T. Craig Bridge sold 85,000 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $37.09, for a total value of $3,152,650.00. Following the completion of the transaction, the insider owned 682,843 shares in the company, valued at $25,326,646.87. This trade represents a 11.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $34.49, for a total value of $297,407.27. Following the completion of the transaction, the chief technology officer owned 438,044 shares of the company's stock, valued at $15,108,137.56. This trade represents a 1.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 581,022 shares of company stock worth $22,078,500. Insiders own 4.10% of the company's stock.

About Waystar

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