Russell Investments Group Ltd. Has $6.35 Million Stock Holdings in Waystar Holding Corp. $WAY

Key Points

• Russell Investments Group Ltd. increased its holdings in Waystar Holding Corp. by 214.4% in Q1, now owning 170,059 shares valued at $6.35 million.
• Several hedge funds, including Victory Capital Management Inc. and Teacher Retirement System of Texas, also significantly increased their stakes in Waystar in the same quarter.
• Waystar recently reported a quarterly EPS of $0.36, exceeding analysts' expectations, along with a revenue increase of 15.4% year-over-year.

Russell Investments Group Ltd. grew its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 214.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 170,059 shares of the company's stock after buying an additional 115,963 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Waystar worth $6,353,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of Waystar by 170.4% in the 1st quarter. Victory Capital Management Inc. now owns 178,024 shares of the company's stock valued at $6,651,000 after buying an additional 112,179 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Waystar by 107.9% in the 1st quarter. Teacher Retirement System of Texas now owns 40,042 shares of the company's stock worth $1,496,000 after purchasing an additional 20,780 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Waystar by 84.1% in the 1st 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 last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Waystar in the 1st quarter worth about $212,000. Finally, Deutsche Bank AG grew its holdings in shares of Waystar by 64.9% in the 4th quarter. Deutsche Bank AG now owns 34,847 shares of the company's stock worth $1,279,000 after purchasing an additional 13,715 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on WAY. Mizuho began coverage on shares of Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price on the stock. Citigroup began coverage on shares of Waystar in a report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 target price on the stock. Truist Financial upped their target price on shares of Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. TD Cowen raised shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Canaccord Genuity Group lowered their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $44.73.

Waystar Stock Down 1.5%

Shares of NASDAQ:WAY opened at $35.09 on Thursday. Waystar Holding Corp. has a 12 month low of $25.76 and a 12 month high of $48.11. The company's 50-day moving average price is $37.14 and its two-hundred day moving average price is $38.50. 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 firm has a market cap of $6.11 billion, a P/E ratio of 73.11, a P/E/G ratio of 0.65 and a beta of 0.79.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, topping 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 firm had revenue of $270.65 million for the quarter, compared to analyst estimates of $255.26 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company's revenue was up 15.4% on a year-over-year basis. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, research analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Activity at Waystar

In other 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 transaction, the insider owned 490,870 shares of the company's stock, valued at approximately $17,234,445.70. This trade represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider T. Craig Bridge sold 85,000 shares of the firm's stock in a transaction dated 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 directly owned 682,843 shares in the company, valued at $25,326,646.87. This trade represents a 11.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 581,022 shares of company stock worth $22,078,500 in the last quarter. Insiders own 4.10% of the company's stock.

Waystar Company Profile

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

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