Ameriprise Financial Inc. Grows Stock Holdings in Waystar Holding Corp. $WAY

Key Points

• Ameriprise Financial Inc. significantly increased its stake in Waystar Holding Corp. by 721.4%, acquiring over 1 million additional shares during the first quarter, bringing its total ownership to approximately $44.9 million.
• Waystar reported quarterly earnings of $0.36 per share, exceeding analysts' expectations of $0.33, with revenue of $270.65 million, a 15.4% increase year-over-year.
• Wall Street analysts generally rate Waystar as a "Buy" or "Strong Buy," with an average price target of $44.73 following recent coverage updates from multiple firms.

Ameriprise Financial Inc. increased its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 721.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,202,340 shares of the company's stock after buying an additional 1,055,965 shares during the period. Ameriprise Financial Inc. owned 0.69% of Waystar worth $44,919,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Monashee Investment Management LLC bought a new position in Waystar in the first quarter worth about $9,340,000. HMS Capital Management LLC bought a new position in Waystar in the first quarter worth about $344,000. EntryPoint Capital LLC bought a new position in Waystar in the first quarter worth about $544,000. Hsbc Holdings PLC raised its stake in Waystar by 575.1% in the first quarter. Hsbc Holdings PLC now owns 70,360 shares of the company's stock worth $2,627,000 after buying an additional 59,938 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Waystar by 27.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,975,142 shares of the company's stock worth $73,791,000 after buying an additional 427,337 shares in the last quarter.

Waystar Stock Down 2.0%

Shares of WAY traded down $0.75 on Tuesday, hitting $37.14. 766,977 shares of the stock traded hands, compared to its average volume of 1,839,992. The company has a market capitalization of $6.47 billion, a PE ratio of 77.23, a P/E/G ratio of 0.69 and a beta of 0.78. 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 business has a 50 day simple moving average of $36.92 and a 200 day simple moving average of $38.15. Waystar Holding Corp. has a one year low of $25.76 and a one year high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The company had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. During the same quarter last year, the firm 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 forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider T. Craig Bridge sold 85,000 shares of Waystar stock in a transaction on Monday, July 21st. The shares were sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the transaction, the insider owned 682,843 shares in the company, valued at $25,326,646.87. This trade represents a 11.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $34.49, for a total transaction of $297,407.27. Following the transaction, the chief technology officer owned 438,044 shares in the company, valued at $15,108,137.56. This represents a 1.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,411 shares of company stock worth $9,110,688 in the last 90 days. Insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 target price for the company. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Mizuho assumed coverage on shares of Waystar in a report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price for the company. Finally, Truist Financial lifted their target price on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to data from MarketBeat, Waystar presently has an average rating of "Buy" and an average price target of $44.73.

About Waystar

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