Northern Trust Corp Acquires 386,357 Shares of Waystar Holding Corp. $WAY

Key Points

• Northern Trust Corp increased its holdings in Waystar Holding Corp by 102.8% during the first quarter, now owning approximately 762,362 shares valued at about $28.48 million.
• Waystar Holding Corp reported an EPS of $0.36 for the last quarter, exceeding analysts' expectations of $0.33, with revenue increasing by 15.4% year-over-year.
• A variety of institutional investors, including Vanguard Group and Invesco Ltd., have significantly raised their stakes in Waystar, indicating strong institutional interest in the company.

Northern Trust Corp lifted its position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 102.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 762,362 shares of the company's stock after buying an additional 386,357 shares during the period. Northern Trust Corp owned approximately 0.44% of Waystar worth $28,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Waystar by 62.1% during 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. ArrowMark Colorado Holdings LLC raised its stake in Waystar by 2.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company's stock worth $127,798,000 after purchasing an additional 79,944 shares during the period. Invesco Ltd. raised its stake in Waystar by 9,107.1% during the first quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock worth $76,225,000 after purchasing an additional 2,018,125 shares during the period. Farallon Capital Management LLC purchased a new position in Waystar during the fourth quarter worth approximately $49,251,000. Finally, Lord Abbett & CO. LLC raised its stake in Waystar by 75.3% during the first quarter. Lord Abbett & CO. LLC now owns 1,336,875 shares of the company's stock worth $49,945,000 after purchasing an additional 574,295 shares during the period.

Waystar Stock Down 0.4%

WAY stock traded down $0.15 during trading hours on Thursday, hitting $37.31. The company's stock had a trading volume of 430,139 shares, compared to its average volume of 1,831,641. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average price of $36.86 and a two-hundred day moving average price of $38.14. The company has a market capitalization of $6.50 billion, a PE ratio of 77.73, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78. Waystar Holding Corp. has a 12 month low of $25.76 and a 12 month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $270.65 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 EPS. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, equities research 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, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $35.11, for a total value of $340,637.22. Following the completion of the sale, the insider owned 490,870 shares in the company, valued at approximately $17,234,445.70. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were 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. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,411 shares of company stock worth $9,110,688. Corporate insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. TD Cowen raised shares of Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Mizuho initiated coverage on shares of Waystar in a research report on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price for the company. Citigroup initiated coverage on shares of Waystar in a research report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 target price for the company. Finally, 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 report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to MarketBeat.com, Waystar presently has a consensus rating of "Buy" and a consensus target price of $44.73.

Waystar Profile

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