Tpg Gp A LLC Sells 554,763 Shares of Waystar Holding Corp. $WAY

Key Points

• Tpg Gp A LLC reduced its stake in Waystar Holding Corp. by 13.5% during the first quarter, owning 3,543,270 shares after selling 554,763 shares.
• Waystar reported $0.36 EPS for the last quarter, surpassing estimates of $0.33, with a revenue of $270.65 million.
• Wall Street analysts have a consensus rating of "Buy" for Waystar, with price targets ranging from $45.00 to $51.00.

TPG GP A LLC reduced its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 13.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 3,543,270 shares of the company's stock after selling 554,763 shares during the quarter. Waystar accounts for approximately 2.6% of TPG GP A LLC's portfolio, making the stock its 6th largest holding. TPG GP A LLC owned 2.05% of Waystar worth $132,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted 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 worth $302,263,000 after purchasing an additional 3,099,211 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of Waystar by 2.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company's stock worth $127,798,000 after purchasing an additional 79,944 shares during the last quarter. Invesco Ltd. increased its position 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 worth $76,225,000 after purchasing an additional 2,018,125 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Waystar by 27.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,975,142 shares of the company's stock valued at $73,791,000 after acquiring an additional 427,337 shares during the last quarter. Finally, Farallon Capital Management LLC bought a new position in Waystar during the fourth quarter valued at approximately $49,251,000.

Insider Activity at Waystar

In other news, CEO Matthew J. Hawkins sold 46,667 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $34.66, for a total value of $1,617,478.22. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm's stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,411 shares of company stock valued at $9,110,688 over the last 90 days. Company insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WAY. Truist Financial raised 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. Mizuho started coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective for the company. TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Citigroup started coverage on Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat.com, Waystar currently has an average rating of "Buy" and an average target price of $44.73.

Waystar Price Performance

WAY stock traded up $0.42 during trading on Wednesday, hitting $37.46. 1,238,368 shares of the company's stock traded hands, compared to its average volume of 1,540,843. The business has a fifty day simple moving average of $36.89 and a 200 day simple moving average of $38.14. 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 $6.53 billion, a price-to-earnings ratio of 39.05, a P/E/G ratio of 0.69 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.

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

About Waystar

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