CHURCHILL MANAGEMENT Corp Trims Stake in Waystar Holding Corp. $WAY

CHURCHILL MANAGEMENT Corp reduced its stake in Waystar Holding Corp. (NASDAQ:WAY) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,404 shares of the company’s stock after selling 1,040 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Waystar were worth $2,019,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WAY. Central Pacific Bank Trust Division bought a new position in shares of Waystar in the second quarter worth about $33,000. State of Wyoming bought a new stake in Waystar during the 1st quarter worth approximately $54,000. Quarry LP bought a new stake in Waystar during the 1st quarter worth approximately $60,000. Amalgamated Bank lifted its holdings in Waystar by 84.1% during the first quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock valued at $101,000 after purchasing an additional 1,241 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Waystar in the first quarter worth approximately $109,000.

Waystar Trading Up 2.9%

Shares of Waystar stock opened at $38.21 on Friday. Waystar Holding Corp. has a twelve month low of $26.59 and a twelve month high of $48.11. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $36.86 and a 200-day moving average price of $37.78. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 79.61, a PEG ratio of 0.68 and a beta of 0.69.

Waystar (NASDAQ:WAY) last announced 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 company 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%.The firm’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.04 earnings per share. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. Equities research analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Transactions at Waystar

In other Waystar news, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $38.26, for a total value of $1,785,479.42. Following the completion of the transaction, the chief executive officer directly owned 764,131 shares of the company’s stock, valued at $29,235,652.06. This trade represents a 5.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $40.03, for a total transaction of $776,742.12. Following the completion of the sale, the insider owned 474,826 shares in the company, valued at approximately $19,007,284.78. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,677,917 shares of company stock valued at $182,939,156 in the last 90 days. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

WAY has been the topic of several recent analyst reports. Robert W. Baird initiated coverage on shares of Waystar in a research report on Friday, September 5th. They set an “outperform” rating and a $44.00 price objective on the stock. JMP Securities initiated coverage on Waystar in a report on Thursday, September 18th. They set a “market outperform” rating and a $48.00 price target on the stock. Truist Financial boosted their price objective on Waystar from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Citigroup assumed coverage on Waystar in a research report on Thursday, September 18th. They set an “outperform” rating for the company. Finally, TD Cowen raised Waystar to a “strong-buy” rating in a research note on Thursday, June 5th. Three investment analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $45.14.

About Waystar

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