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

Shares of Waystar Holding Corp. (NASDAQ:WAY) gapped down prior to trading on Thursday following insider selling activity. 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 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 transaction, the chief financial officer owned 354,512 shares in the company, valued at approximately $14,354,190.88. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction dated 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 directly owned 422,371 shares in the company, valued at approximately $17,101,801.79. The trade was a 2.00% decrease in their position. The disclosure for this sale can be found here. In other news, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $40.03, for a total value of $776,742.12. Following the sale, the insider owned 474,826 shares of the company’s stock, valued at approximately $19,007,284.78. This represents a 3.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Waystar in a report on Wednesday, June 25th. They issued a “buy” rating and a $45.00 target price on the stock. TD Cowen raised shares of Waystar to a “strong-buy” rating in a report on Thursday, June 5th. Truist Financial upped their target price on shares of Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Baird R W raised shares of Waystar to a “strong-buy” rating in a report on Friday, September 5th. Finally, Robert W. Baird assumed coverage on shares of Waystar in a report on Friday, September 5th. They issued an “outperform” rating and a $44.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $44.67.

Waystar Trading Down 5.3%

The business’s fifty day simple moving average is $36.82 and its 200 day simple moving average is $37.97. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.68 billion, a P/E ratio of 79.90, a price-to-earnings-growth ratio of 0.74 and a beta of 0.78.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The firm had revenue of $270.65 million for the quarter, compared to analyst estimates of $255.26 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue was up 15.4% on a year-over-year basis. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new position in shares of Waystar in the 2nd quarter valued at about $33,000. Nisa Investment Advisors LLC raised its position in shares of Waystar by 50.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after acquiring an additional 358 shares during the period. State of Wyoming acquired a new stake in shares of Waystar in the 1st quarter valued at approximately $54,000. EverSource Wealth Advisors LLC raised its position in shares of Waystar by 3,219.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after acquiring an additional 1,352 shares during the period. Finally, Quarry LP acquired a new stake in Waystar during the 1st quarter worth approximately $60,000.

About Waystar

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