Peter Breen had a day out himself, kicking 23 points and proving why he is one of the better first fives in the competition.
Waikato looked bereft of ideas, particularly during the first spell. Maybe the consecutive defeats to Counties Manukau and Canterbury were playing heavily on their mind.
They had more immediate things to worry about though as Northland ran rampant through the middle of the field.
Jone Macilai, Pryor and Matich provided the highlight of the day, combining for a mesmerising display of running rugby to give Matich a try.
Waikato hit back shortly after in a rare foray into Northland's 22. Quick passes led to a try for Jordan Trainor.
However any joy was short-lived joy for the away side as Northland piled on multiple phases and sent it wide for Macilai to score the bonus point try right before halftime.
Breen kicked a beauty from the side-line to give the Taniwha a commanding 32-8 lead at halftime.
Waikato coach Sean Bortherway made wholesale changes at the break, and it paid immediate dividends as Iliesa Ratuva split the defence to score under the posts.
Both sides then looked to play expansively with Warren Dunn and Sevu Reece trading big runs.
Waikato prop Sefo Kautai matched his opposite's earlier effort with a barging try of his own and when captain Whetu Douglas crossed after some individual brilliance from Trainor, an unlikely comeback was on the cards.
However a trio of penalties from Breen and a well-deserved try to second five Dan Hawkins kept Waikato at bay, finally giving Northland fans something to cheer about.
Moulds was visibly ecstatic that they finally got a win.
"Its awesome getting over the line, we've been so close. And it's been little errors," he said.
"We worked on our one-percenters and we got the job done."
"The support we get is unreal and that's why I love playing for the Taniwha. Glad we could get one for them."
Pryor also was in great spirits, highlighting the unwavering effort of his side.
"We knew they were coming out of a tough week after losing the shield so we really targeted this one," he said.
"Planning to go through the middle today but the sun came out so we through the ball around a bit and it came off for us."
Northland next take on North Harbour while Waikato will look to stop the rot against Hawke's Bay.
Northland 48 (Jordan Hyland, Phil Kite, Matt Matich, Jone Macilai, Dan Hawkins tries, Peter Breen 4 con, 5 pen)
Waikato 27 (Jordan Trainor, Iliesa Ratuva, Sefo Kautai, Whetu Douglas tries, Trainor 2 con, pen)
HT: 32-8
