Waystar Holding Corp. $WAY Stock Position Cut by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors cut its Waystar position by 20.4% in the third quarter, selling 332,749 shares and retaining 1.30 million shares valued at approximately $32.9 million.
• Waystar reported quarterly revenue of $319.7 million, up 18.1% year over year, and EPS of $0.43, beating analysts’ $0.40 estimate.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $34.67, despite Truist lowering its target to $33; CEO Matthew Hawkins also sold 82,500 shares under a pre-arranged trading plan.

Fort Washington Investment Advisors Inc. OH decreased its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 20.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,297,662 shares of the company's stock after selling 332,749 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.68% of Waystar worth $32,883,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC grew its holdings in shares of Waystar by 6,475.0% during the first quarter. Root Financial Partners LLC now owns 1,052 shares of the company's stock worth $25,000 after buying an additional 1,036 shares in the last quarter. Essential Partners LLC raised its position in Waystar by 1,432.7% in the 1st quarter. Essential Partners LLC now owns 1,548 shares of the company's stock valued at $37,000 after buying an additional 1,447 shares during the last quarter. OP Asset Management Ltd acquired a new stake in Waystar in the 1st quarter valued at approximately $58,000. GAMMA Investing LLC lifted its stake in Waystar by 20.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,692 shares of the company's stock valued at $68,000 after acquiring an additional 465 shares in the last quarter. Finally, State of Wyoming bought a new stake in Waystar in the 2nd quarter valued at approximately $74,000.

Insiders Place Their Bets

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the business's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $26.23, for a total transaction of $2,163,975.00. Following the transaction, the chief executive officer owned 1,804,794 shares of the company's stock, valued at $47,339,746.62. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 247,500 shares of company stock valued at $6,370,499 in the last ninety days. 3.50% of the stock is owned by company insiders.

Waystar Price Performance

Shares of NASDAQ WAY opened at $28.24 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. The business has a 50-day moving average of $25.34 and a 200-day moving average of $22.90. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.05 and a beta of 0.18. Waystar Holding Corp. has a fifty-two week low of $17.26 and a fifty-two week high of $40.35.

Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Waystar had a return on equity of 7.03% and a net margin of 11.18%. The business had revenue of $319.67 million for the quarter, compared to analyst estimates of $316.21 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. Waystar's revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts predict that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

WAY has been the subject of a number of recent research reports. Truist Financial reduced their price target on Waystar from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. BMO Capital Markets reiterated an "outperform" rating on shares of Waystar in a report on Thursday, August 27th. Canaccord Genuity Group boosted their price objective on shares of Waystar from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. KeyCorp reissued an "overweight" rating on shares of Waystar in a research report on Friday, July 31st. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Waystar in a report on Tuesday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Waystar presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.67.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software for managing healthcare payments and revenue cycle operations. Its platform connects healthcare providers, payers and patients to help streamline administrative and financial workflows across the healthcare system.

The company's products and services include eligibility and benefits verification, claims management and submission, prior authorization, payment processing, patient billing, denial management and revenue cycle analytics.

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