XTX Topco Ltd Makes New $468,000 Investment in Waystar Holding Corp. (NASDAQ:WAY)

Key Points

• XTX Topco Ltd acquired 12,529 shares of Waystar Holding Corp. (NASDAQ: WAY), valued at approximately $468,000, during the first quarter.
• Waystar has shown significant investor interest, with ArrowMark Colorado Holdings increasing its holdings by 2.3% and Bank of America boosting its stake by 263.2% in the fourth quarter.
• The company reported a quarterly earnings beat with $0.36 EPS, above analysts' expectations, and a revenue increase of 15.4% year-over-year.

XTX Topco Ltd acquired a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,529 shares of the company's stock, valued at approximately $468,000.

A number of other hedge funds have also recently made changes to their positions in WAY. Pictet Asset Management Holding SA purchased a new position in shares of Waystar during the 4th quarter worth approximately $237,000. Alliancebernstein L.P. boosted its position in shares of Waystar by 8.3% during the 4th quarter. Alliancebernstein L.P. now owns 48,230 shares of the company's stock worth $1,770,000 after purchasing an additional 3,700 shares during the period. Geode Capital Management LLC boosted its position in shares of Waystar by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,120,296 shares of the company's stock worth $41,124,000 after purchasing an additional 18,872 shares during the period. Wells Fargo & Company MN boosted its position in shares of Waystar by 101.8% during the 4th quarter. Wells Fargo & Company MN now owns 31,404 shares of the company's stock worth $1,153,000 after purchasing an additional 15,842 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Waystar by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company's stock worth $1,985,000 after buying an additional 964 shares in the last quarter.

Insider Activity at Waystar

In related news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $37.63, for a total transaction of $324,483.49. Following the sale, the chief technology officer directly owned 438,044 shares in the company, valued at $16,483,595.72. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $38.26, for a total transaction of $1,785,479.42. Following the sale, the chief executive officer owned 764,131 shares in the company, valued at $29,235,652.06. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,723,436 shares of company stock valued at $326,724,969 over the last quarter. 4.10% of the stock is owned by insiders.

Waystar Stock Up 0.9%

Shares of WAY traded up $0.32 during midday trading on Tuesday, reaching $34.80. The stock had a trading volume of 274,208 shares, compared to its average volume of 1,857,598. Waystar Holding Corp. has a 1-year low of $24.53 and a 1-year high of $48.11. The company's fifty day simple moving average is $37.82 and its two-hundred day simple moving average is $38.71. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 72.53, a PEG ratio of 0.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.43 and a quick ratio of 3.43.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, topping 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 firm had revenue of $270.65 million for the quarter, compared to analyst estimates of $255.26 million. During the same period last year, the business earned $0.04 EPS. Waystar's revenue for the quarter was up 15.4% compared to the same quarter last year. Equities research analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WAY has been the topic of a number of research reports. Mizuho initiated coverage on shares of Waystar in a report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price on the stock. Citigroup initiated coverage on shares of Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 target price on the stock. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Barclays reduced their target price on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Truist Financial increased 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. Twelve research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $42.31.

About Waystar

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