US Bancorp DE Acquires New Position in Waystar Holding Corp. (NASDAQ:WAY)

Key Points

• US Bancorp DE acquired 14,385 shares of Waystar Holding Corp., valued at approximately $537,000, marking a notable new investment in the company.
• Waystar reported $270.65 million in revenue for the most recent quarter, surpassing analysts' expectations of $255.26 million, with earnings per share of $0.36.
• Analyst ratings for Waystar are generally positive, with a consensus rating of "Buy" and a target price around $42.31, highlighting significant interest from research firms.

US Bancorp DE acquired a new position in shares of 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 firm acquired 14,385 shares of the company's stock, valued at approximately $537,000.

Other large investors also recently modified their holdings of the company. Gen Wealth Partners Inc acquired a new stake in shares of Waystar during the 4th quarter worth approximately $92,000. Amalgamated Bank grew its position in shares of Waystar by 84.1% during the 1st 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 period. KBC Group NV acquired a new stake in shares of Waystar during the 1st quarter worth approximately $109,000. RiverPark Advisors LLC grew its position in Waystar by 25.5% in the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock valued at $128,000 after purchasing an additional 710 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Waystar in the 1st quarter valued at $212,000.

Insiders Place Their Bets

In related news, CTO Christopher L. Schremser sold 8,623 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $34.49, for a total value of $297,407.27. Following the sale, the chief technology officer directly owned 438,044 shares in the company, valued at approximately $15,108,137.56. The trade was a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Hawkins sold 46,667 shares of the business'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 $26,484,780.46. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,651,716 shares of company stock valued at $62,154,831. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WAY. 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 target for the company. TD Cowen raised shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Canaccord Genuity Group reduced their price target 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. 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 target for the company. Finally, Truist Financial lifted their price target on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Eleven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $43.25.

Waystar Stock Up 1.6%

WAY traded up $0.56 during mid-day trading on Friday, reaching $36.08. 1,408,887 shares of the stock were exchanged, compared to its average volume of 1,773,052. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. The stock has a market capitalization of $6.29 billion, a PE ratio of 75.17, a price-to-earnings-growth ratio of 0.66 and a beta of 0.79. The company has a 50 day moving average price of $37.43 and a two-hundred day moving average price of $38.59. Waystar Holding Corp. has a 1 year low of $24.94 and a 1 year high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $270.65 million for the quarter, compared to the consensus estimate of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The business's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. As a group, research analysts anticipate that Waystar Holding Corp. will post 0.39 EPS 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.