Raymond James Financial Inc. Has $4.97 Million Stake in Waystar Holding Corp. $WAY

Raymond James Financial Inc. grew its holdings in Waystar Holding Corp. (NASDAQ:WAY) by 224.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,980 shares of the company’s stock after buying an additional 92,007 shares during the period. Raymond James Financial Inc. owned 0.08% of Waystar worth $4,968,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WAY. Seven Grand Managers LLC raised its holdings in Waystar by 233.3% in the 1st quarter. Seven Grand Managers LLC now owns 500,000 shares of the company’s stock valued at $18,680,000 after acquiring an additional 350,000 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Waystar by 75.3% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,336,875 shares of the company’s stock valued at $49,945,000 after purchasing an additional 574,295 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Waystar in the 1st quarter valued at $127,000. Russell Investments Group Ltd. increased its stake in shares of Waystar by 214.4% in the 1st quarter. Russell Investments Group Ltd. now owns 170,059 shares of the company’s stock valued at $6,353,000 after purchasing an additional 115,963 shares during the last quarter. Finally, Informed Momentum Co LLC grew its position in Waystar by 2.9% during the 1st quarter. Informed Momentum Co LLC now owns 96,915 shares of the company’s stock worth $3,621,000 after acquiring an additional 2,692 shares during the last quarter.

Insiders Place Their Bets

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the company’s stock in a transaction dated 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 directly owned 490,870 shares of the company’s stock, valued at $19,742,791.40. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew J. Hawkins sold 46,667 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $34.66, for a total value of $1,617,478.22. Following the completion of the transaction, the chief executive officer directly owned 764,131 shares of the company’s stock, valued at $26,484,780.46. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 246,411 shares of company stock valued at $9,110,688. Insiders own 4.10% of the company’s stock.

Waystar Stock Down 0.6%

Shares of NASDAQ WAY opened at $37.23 on Friday. The stock has a market capitalization of $6.49 billion, a P/E ratio of 77.56, a P/E/G ratio of 0.68 and a beta of 0.78. The company has a 50-day moving average price of $36.82 and a 200-day moving average price of $38.08. Waystar Holding Corp. has a 1 year low of $25.76 and a 1 year high of $48.11. 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) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $270.65 million during the quarter, compared to analyst estimates of $255.26 million. Waystar had a return on equity of 5.65% and a net margin of 8.50%.Waystar’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, equities research analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen upgraded Waystar to a “strong-buy” rating in a research report on Thursday, June 5th. Truist Financial boosted their price objective on Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Citigroup started coverage on Waystar in a report on Wednesday, June 25th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Mizuho started coverage on Waystar in a report on Monday, June 30th. They set an “outperform” rating and a $48.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to MarketBeat.com, Waystar currently has an average rating of “Buy” and a consensus price target of $44.73.

Waystar Profile

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