XTX Topco Ltd Purchases Shares of 12,529 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 purchased a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,529 shares of the company's stock, valued at approximately $468,000.

A number of other large investors have also bought and sold shares of WAY. Fuller & Thaler Asset Management Inc. bought a new position in shares of Waystar in the fourth quarter valued at $56,804,000. Farallon Capital Management LLC bought a new position in shares of Waystar in the fourth quarter valued at $49,251,000. Bank of America Corp DE lifted its position in shares of Waystar by 263.2% during the fourth quarter. Bank of America Corp DE now owns 1,104,189 shares of the company's stock valued at $40,524,000 after purchasing an additional 800,183 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Waystar during the fourth quarter valued at about $27,987,000. Finally, Iron Triangle Partners LP bought a new position in shares of Waystar during the fourth quarter valued at about $20,254,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WAY shares. Citigroup assumed coverage on shares of Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective for the company. Truist Financial boosted their price objective on shares of Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Canaccord Genuity Group reduced their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Barclays lowered their price objective on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Twelve analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $42.31.

Insider Buying and Selling

In related news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of Waystar stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $39.16, for a total value of $379,930.32. Following the sale, the insider directly owned 490,870 shares in the company, valued at $19,222,469.20. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew J. Hawkins sold 197,847 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $38.53, for a total value of $7,623,044.91. Following the sale, the chief executive officer owned 764,131 shares in the company, valued at approximately $29,441,967.43. The trade was a 20.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,770,103 shares of company stock worth $328,543,582. 4.10% of the stock is currently owned by insiders.

Waystar Trading Up 2.0%

Shares of NASDAQ WAY traded up $0.68 during mid-day trading on Friday, reaching $34.59. 1,572,037 shares of the company's stock were exchanged, compared to its average volume of 1,743,105. The company's 50-day moving average is $37.92 and its 200-day moving average is $38.73. Waystar Holding Corp. has a 52-week low of $23.64 and a 52-week high of $48.11. 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 firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 0.63 and a beta of 0.79.

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

Waystar Profile

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