Waystar Holding Corp. $WAY Shares Bought by Rhumbline Advisers

Key Points

• Rhumbline Advisers raised its position in Waystar Holding Corp. by 88.1% during the first quarter, owning approximately 113,177 shares worth around $4.2 million.
• Recently reported quarterly earnings showed Waystar's EPS of $0.36, exceeding expectations, with a 15.4% year-over-year revenue increase to $270.65 million.
• Waystar is currently rated as a "Buy" by multiple analysts, with a consensus target price of $44.67 and several firms issuing an "outperform" or "strong-buy" rating.

Rhumbline Advisers raised its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 88.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,177 shares of the company's stock after purchasing an additional 53,021 shares during the quarter. Rhumbline Advisers owned about 0.07% of Waystar worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Waystar by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company's stock valued at $549,000 after acquiring an additional 304 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Waystar by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company's stock valued at $901,000 after acquiring an additional 960 shares in the last quarter. Legato Capital Management LLC boosted its holdings in shares of Waystar by 8.4% in the first quarter. Legato Capital Management LLC now owns 12,398 shares of the company's stock valued at $463,000 after acquiring an additional 960 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Waystar by 84.1% in 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 in the last quarter. Finally, State of Wyoming bought a new position in shares of Waystar in the first quarter valued at approximately $54,000.

Waystar Trading Down 2.6%

Shares of NASDAQ:WAY opened at $37.36 on Monday. 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 $6.51 billion, a price-to-earnings ratio of 77.83, a PEG ratio of 0.68 and a beta of 0.78. Waystar Holding Corp. has a 1-year low of $26.26 and a 1-year high of $48.11. The company has a 50 day moving average price of $36.78 and a 200 day moving average price of $37.88.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly 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. The business had revenue of $270.65 million during 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 firm's quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, research analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WAY has been the subject of several recent analyst reports. Robert W. Baird initiated coverage on shares of Waystar in a report on Friday, September 5th. They issued an "outperform" rating and a $44.00 price objective for the company. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Citigroup began coverage on shares of Waystar in a report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price objective for the company. Baird R W upgraded shares of Waystar to a "strong-buy" rating in a report on Friday, September 5th. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. Based on data from MarketBeat.com, Waystar currently has an average rating of "Buy" and a consensus target price of $44.67.

Insiders Place Their Bets

In related news, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $40.03, for a total value of $776,742.12. Following the completion of the sale, the insider owned 474,826 shares in the company, valued at approximately $19,007,284.78. This represents a 3.93% 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, CFO Steven M. Oreskovich sold 16,666 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $40.49, for a total transaction of $674,806.34. Following the completion of the sale, the chief financial officer owned 354,512 shares of the company's stock, valued at approximately $14,354,190.88. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 367,481 shares of company stock worth $13,966,561 in the last quarter. 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.

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