Quantbot Technologies LP Buys 255,708 Shares of Waystar Holding Corp. $WAY

Key Points

• Quantbot Technologies LP significantly increased its stake in Waystar Holding Corp. by 578.5% during the first quarter, owning approximately $11.2 million worth of shares.
• CEO Matthew J. Hawkins sold 46,667 shares of Waystar at an average price of $34.66, representing a 5.76% decrease in his holdings.
• Waystar's stock has received positive ratings from multiple analysts, with a current average target price of $43.25 and a strong buy recommendation from eleven analysts.

Quantbot Technologies LP boosted its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 578.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 299,913 shares of the company's stock after acquiring an additional 255,708 shares during the quarter. Quantbot Technologies LP owned 0.17% of Waystar worth $11,205,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WAY. Gen Wealth Partners Inc bought a new position in Waystar in the 4th quarter worth about $92,000. Amalgamated Bank increased 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 acquiring an additional 1,241 shares during the last quarter. KBC Group NV bought a new position in Waystar in the 1st quarter worth about $109,000. Caitong International Asset Management Co. Ltd bought a new position in Waystar in the 1st quarter worth about $127,000. Finally, RiverPark Advisors LLC increased 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 acquiring an additional 710 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WAY. Truist Financial upped their target price 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 reduced their price objective on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. TD Cowen upgraded Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Mizuho started coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective on the stock. Finally, Citigroup started coverage on Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $44.73.

Waystar Trading Up 1.4%

WAY traded up $0.49 on Friday, hitting $36.24. 1,496,607 shares of the company were exchanged, compared to its average volume of 1,841,865. The firm has a fifty day simple moving average of $37.06 and a two-hundred day simple moving average of $38.47. 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 12 month low of $25.76 and a 12 month high of $48.11. The stock has a market capitalization of $6.31 billion, a PE ratio of 75.50, a price-to-earnings-growth ratio of 0.64 and a beta of 0.79.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $255.26 million. During the same period last year, the company earned $0.04 EPS. Waystar's revenue for the quarter was up 15.4% compared to the same quarter last year. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. Sell-side analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.11, for a total value of $340,637.22. Following the completion of the sale, the insider owned 490,870 shares in the company, valued at approximately $17,234,445.70. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Hawkins sold 46,667 shares of the 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 sale, the chief executive officer owned 764,131 shares of the company's stock, valued at approximately $26,484,780.46. This trade represents a 5.76% 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. Corporate insiders own 4.10% of the company's stock.

Waystar Company Profile

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