Voya Investment Management LLC Increases Stock Holdings in Waystar Holding Corp. $WAY

Key Points

• Voya Investment Management LLC increased its stake in Waystar Holding Corp. by 64.0% during Q1, now holding 20,302 shares valued at approximately $758,000.
• Waystar has received favorable ratings from multiple brokerages, including upgrades to "strong-buy" and an average target price of $45.14.
• Insider transactions included significant stock sales, with Director Paul G. Moskowitz selling over 4 million shares for approximately $168 million, representing a 23.79% decrease in ownership.

Voya Investment Management LLC raised its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 64.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,302 shares of the company's stock after purchasing an additional 7,925 shares during the quarter. Voya Investment Management LLC's holdings in Waystar were worth $758,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WAY. TD Cowen raised Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Baird R W upgraded Waystar to a "strong-buy" rating in a research report on Friday, September 5th. Mizuho assumed coverage on Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 price objective for the company. Citigroup assumed coverage on Waystar in a report on Thursday, September 18th. They issued an "outperform" rating for the company. Finally, Truist Financial raised their price objective on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $45.14.

Waystar Trading Down 1.9%

Waystar stock opened at $37.04 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.43 and a quick ratio of 3.43. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 77.17, a PEG ratio of 0.69 and a beta of 0.78. Waystar Holding Corp. has a one year low of $26.56 and a one year high of $48.11. The company's fifty day moving average price is $36.78 and its two-hundred day moving average price is $37.73.

Waystar (NASDAQ:WAY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul G. Moskowitz sold 4,295,139 shares of Waystar stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $39.21, for a total transaction of $168,412,400.19. Following the sale, the director directly owned 13,759,910 shares of the company's stock, valued at $539,526,071.10. This trade represents a 23.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Christopher L. Schremser sold 8,623 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $40.49, for a total transaction of $349,145.27. Following the transaction, the chief technology officer owned 422,371 shares of the company's stock, valued at approximately $17,101,801.79. This represents a 2.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,677,917 shares of company stock valued at $182,939,156 in the last quarter. Insiders own 4.10% of the company's stock.

About Waystar

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

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