Jacobs Levy Equity Management Inc. Makes New $15.84 Million Investment in Waystar Holding Corp. $WAY

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $15.84 million in Waystar Holding Corp., acquiring 423,911 shares, and now owns about 0.25% of the company.
• Waystar reported earnings per share (EPS) of $0.36 for the recent quarter, exceeding estimates and marking a significant increase from last year's $0.04 EPS.
• Several analysts rated Waystar stock positively, with Mizuho issuing an "outperform" rating and a price target of $48.00, reflecting a generally optimistic outlook on the company's performance.

Jacobs Levy Equity Management Inc. bought a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 423,911 shares of the company's stock, valued at approximately $15,837,000. Jacobs Levy Equity Management Inc. owned 0.25% of Waystar as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming acquired a new position in Waystar during the 1st quarter worth $54,000. Quarry LP bought a new stake in shares of Waystar during the 1st quarter worth about $60,000. Gen Wealth Partners Inc acquired a new position in Waystar in the 4th quarter valued at approximately $92,000. Amalgamated Bank grew its stake in shares of Waystar by 84.1% in the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after purchasing an additional 1,241 shares during the period. Finally, KBC Group NV bought a new stake in Waystar during the 1st quarter worth approximately $109,000.

Waystar Trading Up 0.1%

Shares of NASDAQ:WAY traded up $0.03 during midday trading on Tuesday, hitting $40.89. 2,552,811 shares of the stock traded hands, compared to its average volume of 1,605,425. The stock has a market capitalization of $7.12 billion, a PE ratio of 85.19, a P/E/G ratio of 0.75 and a beta of 0.78. The business's 50 day moving average is $36.80 and its two-hundred day moving average is $37.98. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.39. Waystar Holding Corp. has a one year low of $25.76 and a one year high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $270.65 million for the quarter, compared to analysts' expectations of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. Waystar's quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 earnings per share. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, research analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WAY. Citigroup initiated coverage on Waystar in a research note on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price target on the stock. Robert W. Baird assumed coverage on Waystar in a report on Friday. They set an "outperform" rating and a $44.00 price target for the company. Mizuho started coverage on shares of Waystar in a research report on Monday, June 30th. They issued an "outperform" rating and a $48.00 price target for the company. Truist Financial boosted their target price on shares of Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Baird R W upgraded Waystar to a "strong-buy" rating in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $44.67.

Insider Activity at Waystar

In related news, CTO Christopher L. Schremser sold 8,623 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $34.49, for a total transaction of $297,407.27. Following the completion of the transaction, the chief technology officer directly owned 438,044 shares of the company's stock, valued at approximately $15,108,137.56. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was 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 owned 193,261 shares of the company's stock, valued at $7,152,589.61. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 237,788 shares of company stock valued at $8,760,767 over the last quarter. 4.10% of the stock is owned by company insiders.

Waystar Company Profile

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