Waystar Holding Corp. $WAY Shares Purchased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. boosted its position in shares of Waystar Holding Corp. (NASDAQ:WAY) by 505.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,464 shares of the company’s stock after purchasing an additional 22,091 shares during the period. Summit Investment Advisors Inc.’s holdings in Waystar were worth $989,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in shares of Waystar during the 2nd quarter valued at approximately $33,000. Nisa Investment Advisors LLC increased its stake in Waystar by 50.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after acquiring an additional 358 shares during the last quarter. State of Wyoming acquired a new stake in Waystar during the first quarter worth $54,000. Quarry LP purchased a new stake in Waystar in the first quarter valued at $60,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Waystar in the 1st quarter valued at $127,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WAY shares. Weiss Ratings reissued a “hold (c)” rating on shares of Waystar in a research report on Wednesday, October 8th. Canaccord Genuity Group set a $54.00 target price on shares of Waystar in a research note on Thursday, October 30th. Baird R W raised shares of Waystar to a “strong-buy” rating in a research note on Friday, September 5th. JMP Securities started coverage on shares of Waystar in a report on Thursday, September 18th. They issued a “market outperform” rating and a $48.00 price objective on the stock. Finally, Mizuho increased their price objective on shares of Waystar from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Waystar has an average rating of “Buy” and a consensus target price of $48.15.

Waystar Stock Up 2.4%

Waystar stock opened at $36.90 on Thursday. The firm has a market capitalization of $7.06 billion, a P/E ratio of 59.52, a P/E/G ratio of 0.55 and a beta of 0.64. The stock’s fifty day simple moving average is $37.69 and its 200-day simple moving average is $37.87. Waystar Holding Corp. has a twelve month low of $29.29 and a twelve month high of $48.11. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38.

Waystar (NASDAQ:WAY) last released its earnings results on Wednesday, October 29th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The firm had revenue of $268.65 million during the quarter, compared to analysts’ expectations of $256.12 million. Waystar had a return on equity of 6.83% and a net margin of 10.69%.Waystar’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. Waystar has set its FY 2025 guidance at 1.460-1.470 EPS. As a group, equities analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Waystar

In related news, CEO Matthew J. Hawkins sold 12,800 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $38.08, for a total transaction of $487,424.00. Following the sale, the chief executive officer directly owned 717,474 shares in the company, valued at approximately $27,321,409.92. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul G. Moskowitz sold 4,295,139 shares of Waystar stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $39.21, for a total transaction of $168,412,400.19. Following the completion of the transaction, the director owned 13,759,910 shares of the company’s stock, valued at $539,526,071.10. This represents a 23.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,499,582 shares of company stock valued at $176,383,770. 4.10% of the stock is currently owned by company insiders.

About Waystar

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