Raymond James Financial Inc. Boosts Position in Waystar Holding Corp. $WAY

Key Points

• Raymond James Financial Inc. increased its stake in Waystar Holding Corp. by 224.6% in Q1, owning 132,980 shares valued at approximately $4.97 million.
• Insiders at Waystar have sold a total of 246,411 shares worth over $9 million in the past three months, with CEO Matthew J. Hawkins selling 46,667 shares for about $1.62 million.
• Waystar's stock is currently trading at $37.23, with strong quarterly earnings results, reporting an EPS of $0.36, exceeding analysts' expectations.

Raymond James Financial Inc. increased its stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 224.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 132,980 shares of the company's stock after acquiring an additional 92,007 shares during the quarter. Raymond James Financial Inc. owned about 0.08% of Waystar worth $4,968,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in Waystar by 62.1% during the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock valued at $302,263,000 after purchasing an additional 3,099,211 shares during the last quarter. Invesco Ltd. raised its stake in shares of Waystar by 9,107.1% in the first quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock valued at $76,225,000 after acquiring an additional 2,018,125 shares during the period. Farallon Capital Management LLC purchased a new stake in shares of Waystar in the fourth quarter valued at $49,251,000. Lord Abbett & CO. LLC raised its stake in shares of Waystar by 75.3% in the first quarter. Lord Abbett & CO. LLC now owns 1,336,875 shares of the company's stock valued at $49,945,000 after acquiring an additional 574,295 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Waystar by 263.2% in the fourth quarter. Bank of America Corp DE now owns 1,104,189 shares of the company's stock valued at $40,524,000 after acquiring an additional 800,183 shares during the period.

Insider Buying and Selling

In related news, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $34.66, for a total value of $1,617,478.22. Following the completion of the sale, the chief executive officer directly owned 764,131 shares in the company, valued at $26,484,780.46. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $34.49, for a total transaction of $297,407.27. Following the completion of the sale, the chief technology officer owned 438,044 shares of the company's stock, valued at $15,108,137.56. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 237,788 shares of company stock worth $8,760,767 over the last ninety days. Company insiders own 4.10% of the company's stock.

Waystar Stock Down 0.6%

Waystar stock traded down $0.23 during midday trading on Tuesday, hitting $40.63. 1,545,539 shares of the company's stock were exchanged, compared to its average volume of 1,845,954. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. Waystar Holding Corp. has a 12 month low of $25.76 and a 12 month high of $48.11. The firm has a 50-day moving average of $36.77 and a two-hundred day moving average of $37.96. The company has a market cap of $7.08 billion, a PE ratio of 84.66, a P/E/G ratio of 0.68 and a beta of 0.78.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $255.26 million. During the same period last year, the business earned $0.04 EPS. The company's 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, analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WAY shares. Robert W. Baird initiated coverage on shares of Waystar in a research note on Friday. They issued an "outperform" rating and a $44.00 target price on the stock. Baird R W raised shares of Waystar to a "strong-buy" rating in a research note on Friday. Truist Financial raised 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. Citigroup initiated 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. Finally, Mizuho initiated 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. Three investment analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $44.67.

Waystar Profile

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