Keystone Investors PTE Ltd. Invests $852,000 in Waystar Holding Corp. (NASDAQ:WAY)

Key Points

• Keystone Investors PTE Ltd. has acquired a stake in Waystar Holding Corp., purchasing 22,798 shares valued at approximately $852,000 in the first quarter.
• Analysts have mixed views on Waystar, with Barclays lowering their price target to $45.00, while TD Cowen upgraded their rating to "strong-buy," reflecting market confidence.
• Waystar reported a 15.4% year-over-year revenue increase to $270.65 million in its latest quarterly earnings, surpassing analysts' estimates.

Keystone Investors PTE Ltd. bought a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,798 shares of the company's stock, valued at approximately $852,000.

Other hedge funds have also made changes to their positions in the company. Swiss National Bank increased its stake in Waystar by 62.7% during the first quarter. Swiss National Bank now owns 133,400 shares of the company's stock worth $4,984,000 after acquiring an additional 51,400 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Waystar by 76.7% in the first quarter. Deutsche Bank AG now owns 61,560 shares of the company's stock valued at $2,300,000 after buying an additional 26,713 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Waystar by 63.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 615,828 shares of the company's stock valued at $23,007,000 after buying an additional 238,118 shares in the last quarter. Vanguard Group Inc. grew its stake 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 buying an additional 3,099,211 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Waystar by 3.3% in the first quarter. Blair William & Co. IL now owns 61,517 shares of the company's stock valued at $2,298,000 after buying an additional 1,975 shares in the last quarter.

Waystar Stock Performance

WAY stock traded up $0.22 during trading on Tuesday, hitting $34.70. The company had a trading volume of 658,672 shares, compared to its average volume of 1,860,199. The firm has a market cap of $6.05 billion, a PE ratio of 72.30, a price-to-earnings-growth ratio of 0.63 and a beta of 0.79. Waystar Holding Corp. has a 1-year low of $24.53 and a 1-year high of $48.11. The firm has a 50-day moving average price of $37.82 and a 200-day moving average price of $38.71. 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 (NASDAQ:WAY - Get Free Report) last issued 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 firm had revenue of $270.65 million for the quarter, compared to analysts' expectations of $255.26 million. Waystar had a return on equity of 5.65% and a net margin of 8.50%. The firm's revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. On average, analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Insider Transactions at Waystar

In other Waystar news, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $37.39, for a total transaction of $153,723,638.23. Following the transaction, the insider owned 25,580,929 shares in the company, valued at approximately $956,470,935.31. The trade was a 13.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider T. Craig Bridge sold 85,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 682,843 shares in the company, valued at $25,326,646.87. The trade was a 11.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,723,436 shares of company stock worth $326,724,969 over the last three months. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WAY has been the subject of a number of recent research reports. Mizuho initiated coverage on Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price for the company. Citigroup initiated coverage on Waystar in a report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 target price for the company. Truist Financial lifted their target price on Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, July 17th. TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Canaccord Genuity Group decreased their target price on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Twelve investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $42.31.

Waystar Profile

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