Keystone Investors PTE Ltd. Acquires New Holdings 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. acquired a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,798 shares of the company's stock, valued at approximately $852,000.

Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank increased its holdings in Waystar by 62.7% in the 1st 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 in the last quarter. Deutsche Bank AG increased its holdings in Waystar by 76.7% in the 1st quarter. Deutsche Bank AG now owns 61,560 shares of the company's stock worth $2,300,000 after acquiring an additional 26,713 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Waystar by 63.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,828 shares of the company's stock worth $23,007,000 after acquiring an additional 238,118 shares in the last quarter. Vanguard Group Inc. increased its holdings in Waystar by 62.1% in the 1st quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock worth $302,263,000 after acquiring an additional 3,099,211 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in Waystar by 3.3% in the 1st quarter. Blair William & Co. IL now owns 61,517 shares of the company's stock worth $2,298,000 after acquiring an additional 1,975 shares in the last quarter.

Waystar Trading Up 2.0%

WAY traded up $0.68 during trading on Friday, reaching $34.59. The company had a trading volume of 1,572,037 shares, compared to its average volume of 1,743,105. The stock has a market cap of $6.03 billion, a P/E ratio of 72.06, a PEG ratio of 0.63 and a beta of 0.79. The business has a 50 day simple moving average of $37.92 and a 200-day simple moving average of $38.73. Waystar Holding Corp. has a 52 week low of $23.64 and a 52 week high of $48.11. 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, topping analysts' consensus estimates of $0.33 by $0.03. Waystar had a return on equity of 5.65% and a net margin of 8.50%. The company had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. During the same period last year, the company earned $0.04 earnings per share. Waystar's revenue was up 15.4% on a year-over-year basis. On average, equities analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WAY shares. Mizuho started coverage on shares of Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price for the company. Barclays cut their price objective on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. TD Cowen raised shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Truist Financial increased their price objective on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Canaccord Genuity Group cut their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Twelve analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Waystar presently has a consensus rating of "Buy" and an average target price of $42.31.

Insiders Place Their Bets

In other news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of Waystar stock in a transaction on Monday, July 21st. The stock was sold at an average price of $37.10, for a total transaction of $359,944.20. Following the completion of the sale, the insider directly owned 490,870 shares in the company, valued at approximately $18,211,277. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $37.63, for a total value of $324,483.49. Following the sale, the chief technology officer owned 438,044 shares of the company's stock, valued at approximately $16,483,595.72. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,770,103 shares of company stock valued at $328,543,582 in the last three months. 4.10% of the stock is owned by company insiders.

About Waystar

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