Hsbc Holdings PLC Buys New Holdings in Waystar Holding Corp. $WAY

Hsbc Holdings PLC purchased a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 187,312 shares of the company’s stock, valued at approximately $3,846,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in shares of Waystar in the 2nd quarter valued at about $390,593,000. BlackRock Inc. acquired a new stake in Waystar during the 2nd quarter worth approximately $357,950,000. Vanguard Group Inc. increased its position in Waystar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,330,872 shares of the company’s stock worth $403,836,000 after purchasing an additional 41,062 shares in the last quarter. Advent International L.P. purchased a new position in Waystar in the fourth quarter valued at approximately $362,212,000. Finally, William Blair Investment Management LLC lifted its position in Waystar by 0.4% during the fourth quarter. William Blair Investment Management LLC now owns 5,282,220 shares of the company’s stock valued at $172,993,000 after buying an additional 19,033 shares in the last quarter.

Analyst Upgrades and Downgrades

WAY has been the subject of several recent research reports. UBS Group dropped their price objective on shares of Waystar from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. KeyCorp reaffirmed an “overweight” rating on shares of Waystar in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $39.00 price target on shares of Waystar in a report on Friday, July 31st. Wells Fargo & Company cut their price objective on Waystar from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Finally, Citigroup restated a “buy” rating on shares of Waystar in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Waystar has a consensus rating of “Moderate Buy” and an average price target of $35.39.

Waystar Stock Performance

Waystar stock opened at $26.24 on Friday. Waystar Holding Corp. has a 12-month low of $17.26 and a 12-month high of $41.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 1.02 and a beta of 0.06. The firm’s fifty day moving average price is $22.87 and its 200 day moving average price is $22.69.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $316.21 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, research analysts forecast that Waystar Holding Corp. will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Waystar news, CEO Matthew J. Hawkins sold 60,038 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the completion of the sale, the chief executive officer owned 1,835,081 shares in the company, valued at $45,895,375.81. This trade represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.50% of the company’s stock.

Waystar Profile

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.