Rhumbline Advisers Buys 53,021 Shares of Waystar Holding Corp. $WAY

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 grew its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 88.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,177 shares of the company's stock after purchasing an additional 53,021 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of Waystar worth $4,228,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. State of Wyoming bought a new position in Waystar during the first quarter worth about $54,000. Quarry LP acquired a new stake in shares of Waystar in the 1st quarter valued at approximately $60,000. Amalgamated Bank boosted its stake in shares of Waystar by 84.1% in the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after purchasing an additional 1,241 shares in the last quarter. KBC Group NV acquired a new stake in shares of Waystar in the 1st quarter valued at approximately $109,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Waystar during the 1st quarter worth approximately $127,000.

Waystar Trading Down 2.0%

Shares of Waystar stock traded down $0.78 during midday trading on Friday, reaching $37.80. 23,165,252 shares of the company's stock traded hands, compared to its average volume of 2,763,748. The stock has a 50 day moving average of $36.81 and a 200-day moving average of $37.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. The company has a market cap of $6.59 billion, a PE ratio of 78.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.78. Waystar Holding Corp. has a 12 month low of $26.26 and a 12 month 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. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The business had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, equities analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 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 value of $674,806.34. Following the transaction, the chief financial officer directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider T. Craig Bridge sold 85,000 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $40.06, for a total value of $3,405,100.00. Following the completion of the transaction, the insider directly owned 583,355 shares in the company, valued at $23,369,201.30. This trade represents a 12.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,652,918 shares of company stock valued at $182,012,322. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. JMP Securities initiated coverage on shares of Waystar in a research note on Thursday. They issued a "market outperform" rating and a $48.00 price objective for the company. Mizuho initiated coverage on shares of Waystar in a report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective on the stock. Citigroup began coverage on shares of Waystar in a report on Thursday. They set an "outperform" rating on the stock. Finally, Citizens Jmp began coverage on shares of Waystar in a report on Thursday. They issued a "mkt outperform" rating and a $48.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $45.14.

Waystar Profile

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