Principal Financial Group Inc. Purchases Shares of 5,923 Waystar Holding Corp. (NASDAQ:WAY)

Principal Financial Group Inc. purchased a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,923 shares of the company’s stock, valued at approximately $221,000.

Several other institutional investors have also added to or reduced their stakes in WAY. Mark Sheptoff Financial Planning LLC bought a new position in shares of Waystar during the fourth quarter valued at about $48,000. Gen Wealth Partners Inc bought a new position in shares of Waystar during the fourth quarter valued at about $92,000. Amalgamated Bank raised its stake in shares of Waystar by 84.1% during the first quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock valued at $101,000 after acquiring an additional 1,241 shares during the last quarter. KBC Group NV bought a new position in shares of Waystar during the first quarter valued at about $109,000. Finally, RiverPark Advisors LLC raised its stake in shares of Waystar by 25.5% during the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock valued at $128,000 after acquiring an additional 710 shares during the last quarter.

Insider Activity

In other news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $40.22, for a total transaction of $390,214.44. Following the sale, the insider owned 490,870 shares in the company, valued at $19,742,791.40. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were 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 approximately $29,235,652.06. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,684,024 shares of company stock worth $325,377,374. Corporate insiders own 4.10% of the company’s stock.

Waystar Price Performance

Shares of NASDAQ WAY opened at $36.70 on Monday. Waystar Holding Corp. has a fifty-two week low of $20.74 and a fifty-two week high of $48.11. The company has a 50 day simple moving average of $38.96 and a two-hundred day simple moving average of $38.93. The company has a market capitalization of $6.39 billion and a price-to-earnings ratio of 407.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.12 and a current ratio of 3.12.

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

Wall Street Analysts Forecast Growth

WAY has been the subject of several recent analyst reports. 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 note on Thursday. Barclays decreased their price target on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Canaccord Genuity Group decreased their price target on shares of Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Citigroup initiated coverage on shares of Waystar in a research note on Wednesday, June 25th. They issued a “buy” rating and a $45.00 price target for the company. Finally, TD Cowen raised shares of Waystar to a “strong-buy” rating in a research note on Thursday, June 5th. Twelve research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $42.31.

Waystar Profile

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