Swiss National Bank Purchases 51,400 Shares of Waystar Holding Corp. $WAY

Key Points

• The Swiss National Bank increased its stake in Waystar Holding Corp. by 62.7% in Q1, owning a total of 133,400 shares valued at approximately $4.98 million.
• Waystar received a "strong-buy" rating from TD Cowen, with a consensus target price among analysts set at $43.25.
• The company reported $0.36 EPS for the latest quarter, exceeding estimates, and achieved a revenue of $270.65 million, up 15.4% year-over-year.

Swiss National Bank lifted its stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 62.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 133,400 shares of the company's stock after acquiring an additional 51,400 shares during the period. Swiss National Bank owned 0.08% of Waystar worth $4,984,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Gen Wealth Partners Inc acquired a new position in Waystar during the fourth quarter worth $92,000. Amalgamated Bank increased its holdings in Waystar by 84.1% during the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after buying an additional 1,241 shares during the last quarter. KBC Group NV bought a new position in Waystar during the first quarter worth about $109,000. RiverPark Advisors LLC boosted its position in Waystar by 25.5% during the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after purchasing an additional 710 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Waystar during the first quarter worth about $212,000.

Insider Activity

In related news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $37.10, for a total value of $359,944.20. Following the transaction, the insider owned 490,870 shares in the company, valued at $18,211,277. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Christopher L. Schremser sold 8,623 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $34.49, for a total transaction of $297,407.27. Following the transaction, the chief technology officer owned 438,044 shares in the company, valued at $15,108,137.56. This represents a 1.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,175 shares of company stock worth $14,455,455. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WAY has been the subject of a number of research reports. Truist Financial increased 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. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Citigroup began coverage on shares of Waystar in a research report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price objective for the company. Mizuho began coverage on shares of Waystar in a research report on Monday, June 30th. They issued an "outperform" rating and a $48.00 price objective for the company. Finally, Canaccord Genuity Group cut their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Two research 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.com, Waystar has an average rating of "Buy" and an average target price of $44.73.

Waystar Price Performance

Shares of WAY stock traded up $0.5750 during trading hours on Friday, hitting $36.3250. 762,300 shares of the company's stock were exchanged, compared to its average volume of 1,836,683. The company has a market capitalization of $6.33 billion, a PE ratio of 75.68, a PEG ratio of 0.64 and a beta of 0.79. The business's 50 day simple moving average is $37.06 and its 200-day simple moving average is $38.47. Waystar Holding Corp. has a 12-month low of $25.76 and a 12-month high of $48.11. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39.

Waystar (NASDAQ:WAY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.36 EPS 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 firm had revenue of $270.65 million for the quarter, compared to analysts' expectations of $255.26 million. During the same quarter in the previous year, the business posted $0.04 EPS. The company's quarterly revenue was up 15.4% on a year-over-year basis. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, equities research analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Waystar Profile

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