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

Waystar Holding Corp. (NASDAQ:WAY)’s stock price gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $40.50, but opened at $38.99. Waystar shares last traded at $38.62, with a volume of 1,077,283 shares changing hands.

Specifically, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $40.49, for a total value of $674,806.34. Following the completion of the sale, the chief financial officer directly owned 354,512 shares in the company, valued at approximately $14,354,190.88. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Christopher L. Schremser sold 8,623 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $40.49, for a total transaction of $349,145.27. Following the completion of the sale, the chief technology officer owned 422,371 shares of the company’s stock, valued at $17,101,801.79. The trade was a 2.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $40.03, for a total value of $776,742.12. Following the completion of the sale, the insider directly owned 474,826 shares in the company, valued at approximately $19,007,284.78. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WAY shares. TD Cowen upgraded shares of Waystar to a “strong-buy” rating in a research note on Thursday, June 5th. Truist Financial boosted their price objective on shares of Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Robert W. Baird started coverage on shares of Waystar in a research note on Friday, September 5th. They issued an “outperform” rating and a $44.00 price objective for the company. Baird R W upgraded shares of Waystar to a “strong-buy” rating in a research note on Friday, September 5th. Finally, Mizuho started coverage on shares of Waystar in a research note on Monday, June 30th. They set an “outperform” rating and a $48.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to MarketBeat.com, Waystar has a consensus rating of “Buy” and an average price target of $44.67.

Waystar Trading Down 5.3%

The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 79.90, a PEG ratio of 0.74 and a beta of 0.78. The company’s 50 day moving average is $36.82 and its 200 day moving average is $37.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43.

Waystar (NASDAQ:WAY) last released its earnings results on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $270.65 million during the quarter, compared to analysts’ expectations of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, research analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Waystar

A number of hedge funds have recently made changes to their positions in WAY. Alliancebernstein L.P. raised its stake in shares of Waystar by 3,883.4% in the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after buying an additional 3,186,869 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Waystar by 62.1% in the 1st quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock valued at $302,263,000 after buying an additional 3,099,211 shares in the last quarter. Invesco Ltd. raised its stake in shares of Waystar by 9,107.1% in the 1st quarter. Invesco Ltd. now owns 2,040,285 shares of the company’s stock valued at $76,225,000 after buying an additional 2,018,125 shares in the last quarter. Norges Bank acquired a new position in shares of Waystar in the 2nd quarter valued at $46,577,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Waystar by 721.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,202,340 shares of the company’s stock valued at $44,919,000 after buying an additional 1,055,965 shares in the last quarter.

About Waystar

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