PDT Partners LLC Takes $1.45 Million Position in Waystar Holding Corp. $WAY

Key Points

• PDT Partners LLC acquired a new stake in Waystar Holding Corp., purchasing 38,701 shares valued at approximately $1.45 million during the first quarter.
• Waystar reported quarterly earnings of $0.36 EPS, exceeding estimates of $0.33, with revenues reaching $270.65 million, a 15.4% increase year-over-year.
• Analysts have rated Waystar as a Buy, with two firms assigning a Strong Buy rating and an average target price of $44.73.

PDT Partners LLC purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 38,701 shares of the company's stock, valued at approximately $1,446,000.

A number of other large investors also recently bought and sold shares of WAY. State of Wyoming purchased a new position in shares of Waystar in the 1st quarter worth $54,000. Quarry LP acquired a new position in Waystar in the first quarter valued at $60,000. Gen Wealth Partners Inc acquired a new position in Waystar in the fourth quarter valued at $92,000. Amalgamated Bank boosted its holdings in Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after acquiring an additional 1,241 shares during the last quarter. Finally, KBC Group NV acquired a new position in Waystar in the first quarter valued at $109,000.

Analysts Set New Price Targets

WAY has been the topic of a number of research analyst reports. Robert W. Baird initiated coverage on Waystar in a report on Friday. They issued an "outperform" rating and a $44.00 target price on the stock. TD Cowen upgraded Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Citigroup assumed coverage on Waystar in a research note on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective on the stock. Mizuho assumed coverage on Waystar in a research note on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective on the stock. Finally, Truist Financial boosted their price objective on 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 eleven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $44.67.

Waystar Stock Up 0.1%

Shares of NASDAQ WAY traded up $0.04 during midday trading on Friday, reaching $37.27. 916,770 shares of the company's stock were exchanged, compared to its average volume of 1,444,429. Waystar Holding Corp. has a 52-week low of $25.76 and a 52-week high of $48.11. The stock has a market capitalization of $6.49 billion, a PE ratio of 77.65, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78. 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's fifty day moving average price is $36.77 and its two-hundred day moving average price is $38.03.

Waystar (NASDAQ:WAY - Get Free Report) last announced its 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 business had revenue of $270.65 million for the quarter, compared to analyst estimates of $255.26 million. During the same period in the previous year, the company earned $0.04 earnings per share. The company's revenue for the quarter was up 15.4% compared to the same quarter last year. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. Analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Buying and Selling at Waystar

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.11, for a total transaction of $340,637.22. Following the transaction, the insider owned 490,870 shares of the company's stock, valued at $17,234,445.70. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $37.01, for a total value of $125,834.00. Following the completion of the transaction, the chief marketing officer owned 193,261 shares of the company's stock, valued at approximately $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 90 days, insiders sold 246,411 shares of company stock valued at $9,110,688. Company insiders own 4.10% of the company's stock.

Waystar Profile

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