Charles Schwab Investment Management Inc. Buys 238,118 Shares of Waystar Holding Corp. $WAY

Charles Schwab Investment Management Inc. boosted its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 63.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 615,828 shares of the company’s stock after buying an additional 238,118 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.36% of Waystar worth $23,007,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Waystar by 62.1% during the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock valued at $302,263,000 after buying an additional 3,099,211 shares during the period. ArrowMark Colorado Holdings LLC grew its position in Waystar by 2.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company’s stock valued at $127,798,000 after buying an additional 79,944 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Waystar during the fourth quarter valued at about $56,804,000. Farallon Capital Management LLC purchased a new stake in Waystar during the fourth quarter valued at about $49,251,000. Finally, Bank of America Corp DE lifted its holdings in 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 during the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on WAY shares. Canaccord Genuity Group dropped their price objective on shares of Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Mizuho started coverage on shares of Waystar in a report on Monday, June 30th. They set an “outperform” rating and a $48.00 price objective on the stock. TD Cowen raised shares of Waystar to a “strong-buy” rating in a report on Thursday, June 5th. 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 report on Thursday, July 17th. Finally, Citigroup started coverage on shares of Waystar in a report on Wednesday, June 25th. They set a “buy” rating and a $45.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $44.73.

Waystar Trading Up 1.9%

Shares of Waystar stock opened at $35.75 on Friday. Waystar Holding Corp. has a 12-month low of $25.76 and a 12-month high of $48.11. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 74.48, a PEG ratio of 0.64 and a beta of 0.79. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $37.06 and its 200-day moving average price is $38.47.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $255.26 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, equities analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $35.11, for a total value of $340,637.22. Following the sale, the insider directly owned 490,870 shares of the company’s stock, valued at approximately $17,234,445.70. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider T. Craig Bridge sold 85,000 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the completion of the sale, the insider directly owned 682,843 shares in the company, valued at $25,326,646.87. This represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 383,175 shares of company stock valued at $14,455,455. Corporate insiders own 4.10% of the company’s stock.

Waystar Profile

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