Waystar (NASDAQ:WAY) Trading Down 5.2% – Here’s Why

Waystar Holding Corp. (NASDAQ:WAY)’s share price fell 5.2% on Wednesday . The company traded as low as $41.70 and last traded at $42.75. 520,396 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,310,092 shares. The stock had previously closed at $45.11.

Analysts Set New Price Targets

WAY has been the topic of several recent research reports. Evercore ISI increased their target price on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price objective on Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Jefferies Financial Group began coverage on Waystar in a report on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price for the company. Bank of America increased their price target on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $39.64.

Waystar Trading Up 3.0 %

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The stock has a 50 day moving average of $38.98 and a 200 day moving average of $31.82.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million for the quarter, compared to analysts’ expectations of $232.29 million. As a group, sell-side analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the completion of the sale, the chief financial officer now directly owns 173,642 shares in the company, valued at approximately $5,884,727.38. This represents a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank purchased a new position in shares of Waystar during the third quarter valued at approximately $41,000. RiverPark Advisors LLC bought a new stake in Waystar in the third quarter valued at $78,000. Jennison Associates LLC increased its position in Waystar by 4.3% during the 3rd quarter. Jennison Associates LLC now owns 1,129,164 shares of the company’s stock valued at $31,492,000 after purchasing an additional 46,264 shares during the period. Smithfield Trust Co bought a new position in Waystar in the 3rd quarter worth $68,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Waystar in the 3rd quarter worth about $10,224,000.

About Waystar

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