First Trust Advisors LP Reduces Stake in Waystar Holding Corp. $WAY

First Trust Advisors LP reduced its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 68.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,803 shares of the company’s stock after selling 48,437 shares during the quarter. First Trust Advisors LP’s holdings in Waystar were worth $550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kennedy Capital Management LLC lifted its stake in shares of Waystar by 0.5% in the 4th quarter. Kennedy Capital Management LLC now owns 106,207 shares of the company’s stock valued at $3,478,000 after purchasing an additional 559 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Waystar by 22.1% during the 4th quarter. Pacer Advisors Inc. now owns 3,144 shares of the company’s stock valued at $103,000 after purchasing an additional 569 shares during the last quarter. State of Wyoming raised its holdings in Waystar by 45.1% during the 2nd quarter. State of Wyoming now owns 2,098 shares of the company’s stock valued at $86,000 after buying an additional 652 shares during the period. ProShare Advisors LLC raised its holdings in Waystar by 3.7% during the 4th quarter. ProShare Advisors LLC now owns 21,474 shares of the company’s stock valued at $703,000 after buying an additional 764 shares during the period. Finally, Vinva Investment Management Ltd lifted its position in Waystar by 9.3% in the fourth quarter. Vinva Investment Management Ltd now owns 9,202 shares of the company’s stock worth $301,000 after buying an additional 786 shares during the last quarter.

Waystar Stock Down 1.6%

Shares of WAY opened at $24.30 on Wednesday. The firm has a market capitalization of $4.66 billion, a P/E ratio of 34.71, a P/E/G ratio of 0.96 and a beta of 0.06. Waystar Holding Corp. has a 12-month low of $17.26 and a 12-month high of $41.47. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $21.32 and a 200-day moving average price of $22.83.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The company had revenue of $319.67 million for the quarter, compared to the consensus estimate of $316.21 million. During the same quarter last year, the firm posted $0.36 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. Equities research analysts expect that Waystar Holding Corp. will post 1.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

WAY has been the subject of several recent analyst reports. KeyCorp reaffirmed an “overweight” rating on shares of Waystar in a research note on Friday, July 31st. JPMorgan Chase & Co. reduced their target price on shares of Waystar from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $39.00 price target on shares of Waystar in a research note on Friday, July 31st. Finally, Wells Fargo & Company cut their price target on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.23.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.