Waystar (NASDAQ:WAY) Shares Gap Down on Insider Selling

Waystar Holding Corp. (NASDAQ:WAY) shares gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $40.30, but opened at $38.74. Waystar shares last traded at $39.39, with a volume of 152,668 shares trading hands.

Specifically, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $40.17, for a total transaction of $346,385.91. Following the sale, the chief technology officer now owns 438,044 shares of the company’s stock, valued at $17,596,227.48. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WAY shares. The Goldman Sachs Group increased their price objective on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group dropped their price objective on Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group assumed coverage on Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price on the stock. Truist Financial set a $50.00 price target on shares of Waystar and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, Barclays cut their target price on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waystar presently has an average rating of “Buy” and an average target price of $40.50.

Waystar Stock Performance

The stock has a market cap of $6.77 billion and a PE ratio of 434.56. The company’s 50 day simple moving average is $37.47 and its 200 day simple moving average is $36.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. The business’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Waystar

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Waystar during the fourth quarter valued at about $119,387,000. Vanguard Group Inc. boosted its stake in shares of Waystar by 62.1% during the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock valued at $302,263,000 after purchasing an additional 3,099,211 shares during the period. Invesco Ltd. increased its position in shares of Waystar by 9,107.1% in the first quarter. Invesco Ltd. now owns 2,040,285 shares of the company’s stock valued at $76,225,000 after acquiring an additional 2,018,125 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Waystar during the 4th quarter valued at approximately $56,804,000. Finally, Farallon Capital Management LLC purchased a new stake in Waystar in the fourth quarter worth $49,251,000.

Waystar Company Profile

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