Xponance Inc. Makes New $221,000 Investment in Waystar Holding Corp. (NASDAQ:WAY)

Xponance Inc. acquired a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,917 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WAY. Cerity Partners LLC grew its stake in shares of Waystar by 89.8% during the first quarter. Cerity Partners LLC now owns 87,844 shares of the company’s stock valued at $3,282,000 after acquiring an additional 41,565 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Waystar by 43.9% during the first quarter. Bank of New York Mellon Corp now owns 344,045 shares of the company’s stock valued at $12,854,000 after acquiring an additional 104,995 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Waystar during the first quarter valued at approximately $221,000. Teacher Retirement System of Texas grew its position in Waystar by 107.9% in the first quarter. Teacher Retirement System of Texas now owns 40,042 shares of the company’s stock worth $1,496,000 after buying an additional 20,780 shares during the last quarter. Finally, Smith Group Asset Management LLC acquired a new position in Waystar in the first quarter worth approximately $480,000.

Analysts Set New Price Targets

WAY has been the topic of several research analyst reports. Mizuho assumed coverage on shares of Waystar in a report on Monday, June 30th. They set an “outperform” rating and a $48.00 price target on the stock. Truist Financial upped their price objective on shares of Waystar from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity Group dropped their price target on shares of Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Barclays decreased their price target 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. Finally, TD Cowen raised shares of Waystar to a “strong-buy” rating in a research report on Thursday, June 5th. Twelve equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $42.31.

Waystar Price Performance

WAY stock opened at $36.70 on Friday. The company has a 50 day simple moving average of $38.96 and a 200 day simple moving average of $38.91. The stock has a market cap of $6.39 billion and a price-to-earnings ratio of 407.82. Waystar Holding Corp. has a 1 year low of $20.74 and a 1 year high of $48.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.12 and a quick ratio of 3.12.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The firm had revenue of $256.44 million during the quarter, compared to analysts’ expectations of $248.47 million. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Activity at Waystar

In related news, major shareholder Canada Pension Plan Investment sold 616,704 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $37.39, for a total transaction of $23,058,562.56. Following the completion of the sale, the insider directly owned 24,964,225 shares in the company, valued at $933,412,372.75. This represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $37.63, for a total transaction of $324,483.49. Following the completion of the transaction, the chief technology officer owned 438,044 shares of the company’s stock, valued at $16,483,595.72. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,684,024 shares of company stock worth $325,377,374. Insiders own 4.10% of the company’s stock.

Waystar Company Profile

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