Next Century Growth Investors LLC Purchases 29,632 Shares of Waystar Holding Corp. $WAY

Key Points

• Next Century Growth Investors LLC increased its shareholding in Waystar Holding Corp. by 9.1%, now owning 356,224 shares strong>, valued at approximately $13.3 million.
• Waystar reported better-than-expected quarterly earnings, with $0.36 earnings per share against an estimate of $0.33, and a revenue of $270.65 million, surpassing analyst expectations.
• A number of analysts have given Waystar a "buy" rating, with price targets ranging between $45.00 and $51.00, indicating positive market sentiment towards the stock.

Next Century Growth Investors LLC grew its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,224 shares of the company's stock after purchasing an additional 29,632 shares during the quarter. Waystar makes up about 1.2% of Next Century Growth Investors LLC's investment portfolio, making the stock its 29th largest holding. Next Century Growth Investors LLC owned approximately 0.21% of Waystar worth $13,309,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gen Wealth Partners Inc bought a new position in shares of Waystar in the fourth quarter worth approximately $92,000. Amalgamated Bank boosted its position in shares of Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after purchasing an additional 1,241 shares during the period. KBC Group NV bought a new position in shares of Waystar in the first quarter worth approximately $109,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Waystar in the first quarter worth approximately $127,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Waystar in the first quarter worth approximately $212,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Citigroup assumed coverage on shares of Waystar in a research note on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price target on the stock. Mizuho assumed coverage on shares of Waystar in a research note on Monday, June 30th. They issued an "outperform" rating and a $48.00 price target on the stock. Finally, Truist Financial boosted their price target 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. Two investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to MarketBeat.com, Waystar presently has an average rating of "Buy" and an average target price of $44.73.

Waystar Price Performance

WAY stock traded down $0.40 during trading on Monday, hitting $37.88. 2,251,842 shares of the company's stock traded hands, compared to its average volume of 1,638,315. Waystar Holding Corp. has a 52 week low of $25.76 and a 52 week high of $48.11. 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 business has a fifty day simple moving average of $36.92 and a 200 day simple moving average of $38.20. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 78.92, a P/E/G ratio of 0.69 and a beta of 0.78.

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

Insider Buying and Selling at Waystar

In other Waystar news, insider T. Craig Bridge sold 85,000 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $37.09, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $34.66, for a total transaction of $1,617,478.22. Following the transaction, the chief executive officer owned 764,131 shares of the company's stock, valued at $26,484,780.46. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,411 shares of company stock worth $9,110,688 over the last three months. 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.