Strs Ohio Makes New Investment in Waystar Holding Corp. $WAY

Key Points

• Strs Ohio has invested approximately $1.56 million in Waystar Holding Corp. by acquiring 41,874 shares in the first quarter.
• Waystar reported a quarterly revenue of $270.65 million, exceeding analysts' expectations and marking a 15.4% increase compared to the same period last year.
• Equities research analysts have a consensus rating of "Buy" for Waystar, with projections indicating the stock could reach an average target price of $44.67.

Strs Ohio purchased a new stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 41,874 shares of the company's stock, valued at approximately $1,564,000.

Several other large investors also recently modified their holdings of WAY. State of Wyoming acquired a new position in Waystar during the 1st quarter worth $54,000. Quarry LP bought a new position in Waystar during the first quarter worth about $60,000. Amalgamated Bank boosted its holdings in shares of Waystar by 84.1% during the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after acquiring an additional 1,241 shares during the period. KBC Group NV acquired a new position in Waystar during the first quarter valued at approximately $109,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Waystar during the first quarter worth $127,000.

Insider Activity

In other news, CEO Matthew J. Hawkins sold 46,667 shares of the firm's stock in a transaction dated 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 owned 764,131 shares in the company, valued at approximately $26,484,780.46. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider T. Craig Bridge sold 85,000 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $40.06, for a total transaction of $3,405,100.00. Following the completion of the transaction, the insider directly owned 583,355 shares in the company, valued at $23,369,201.30. This represents a 12.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,652,918 shares of company stock valued at $182,012,322 over the last three months. Corporate insiders own 4.10% of the company's stock.

Waystar Trading Down 2.0%

NASDAQ:WAY traded down $0.78 during trading hours on Friday, reaching $37.80. The company's stock had a trading volume of 23,165,252 shares, compared to its average volume of 2,763,748. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 78.75, a PEG ratio of 0.70 and a beta of 0.78. The firm has a 50-day simple moving average of $36.81 and a 200-day simple moving average of $37.79. Waystar Holding Corp. has a 1 year low of $26.26 and a 1 year 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.

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup started coverage on shares of Waystar in a research note on Thursday. They issued an "outperform" rating on the stock. Truist Financial upped their price objective on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Robert W. Baird started coverage on shares of Waystar in a report on Friday, September 5th. They set an "outperform" rating and a $44.00 price objective on the stock. Mizuho started 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. Finally, Baird R W upgraded shares of Waystar to a "strong-buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. Based on data from MarketBeat.com, Waystar has a consensus rating of "Buy" and an average target price of $45.14.

Waystar Company Profile

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