US Bancorp DE Buys Shares of 14,385 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 stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,385 shares of the company's stock, valued at approximately $537,000.

A number of other large investors have also made changes to their positions in WAY. RiverPark Advisors LLC boosted its stake in Waystar by 25.5% in the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after buying an additional 710 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Waystar by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company's stock worth $901,000 after buying an additional 960 shares during the last quarter. Legato Capital Management LLC boosted its stake in Waystar by 8.4% in the 1st quarter. Legato Capital Management LLC now owns 12,398 shares of the company's stock worth $463,000 after buying an additional 960 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Waystar by 1.8% in the 4th quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company's stock worth $1,985,000 after buying an additional 964 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in Waystar by 84.1% in 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 last quarter.

Insiders Place Their Bets

In other news, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $34.49, for a total value of $297,407.27. Following the completion of the transaction, the chief technology officer owned 438,044 shares of the company's stock, valued at approximately $15,108,137.56. The trade was a 1.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,775,326 shares of company stock valued at $328,506,609 over the last 90 days. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on WAY shares. Truist Financial raised their price target on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Canaccord Genuity Group cut their price objective on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Mizuho started coverage on Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 price objective on the stock. Finally, Citigroup started coverage on Waystar in a report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price objective on the stock. Twelve research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $42.31.

Waystar Stock Up 0.5%

Shares of NASDAQ:WAY traded up $0.17 during mid-day trading on Thursday, hitting $35.52. 1,268,987 shares of the company traded hands, compared to its average volume of 1,859,999. The firm has a market cap of $6.19 billion, a P/E ratio of 74.00, a PEG ratio of 0.63 and a beta of 0.79. 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 Holding Corp. has a 52-week low of $24.57 and a 52-week high of $48.11. The firm's 50 day simple moving average is $37.63 and its 200 day simple moving average is $38.66.

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 the consensus estimate of $0.33 by $0.03. Waystar had a return on equity of 5.65% and a net margin of 8.50%. The business had revenue of $270.65 million for the quarter, compared to the consensus estimate of $255.26 million. During the same period last year, the business posted $0.04 EPS. The company's revenue was up 15.4% on a year-over-year basis. On average, equities analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.

Waystar Company Profile

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