Waystar (NASDAQ:WAY) CEO Matthew Hawkins Sells 82,500 Shares of Stock

Key Points

• Waystar CEO Matthew Hawkins sold 82,500 shares at an average price of $26.23, generating approximately $2.16 million. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan, leaving him with 1.80 million shares.
• Waystar shares fell 2.4% to $25.77 during mid-day trading, while the company reported quarterly EPS of $0.43 and revenue of $319.67 million, both exceeding analyst expectations. Revenue increased 18.1% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $34.67, despite some firms recently lowering ratings or price targets.

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) CEO Matthew Hawkins sold 82,500 shares of the company's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $26.23, for a total value of $2,163,975.00. Following the sale, the chief executive officer owned 1,804,794 shares in the company, valued at approximately $47,339,746.62. The trade was a 4.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Waystar Trading Down 2.4%

WAY stock traded down $0.63 during mid-day trading on Wednesday, reaching $25.77. The company's stock had a trading volume of 1,773,022 shares, compared to its average volume of 2,587,997. Waystar Holding Corp. has a 12 month low of $17.26 and a 12 month high of $40.35. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. The business's 50 day moving average price is $24.80 and its 200 day moving average price is $22.78. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 36.81, a price-to-earnings-growth ratio of 1.03 and a beta of 0.18.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The firm had revenue of $319.67 million for the quarter, compared to analysts' expectations of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The company's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. On average, equities research analysts predict that Waystar Holding Corp. will post 1.47 EPS for the current year.

Hedge Funds Weigh In On Waystar

Several large investors have recently bought and sold shares of WAY. Jupiter Topco LLC bought a new position in shares of Waystar during the 2nd quarter worth approximately $58,960,000. Clarkston Capital Partners LLC purchased a new stake in shares of Waystar during the first quarter valued at approximately $22,917,000. Bain Capital Venture Investors LLC purchased a new stake in shares of Waystar during the second quarter valued at approximately $18,127,271. Hsbc Holdings PLC bought a new stake in Waystar during the first quarter worth $5,625,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Waystar during the second quarter worth $43,314,000.

Wall Street Analyst Weigh In

WAY has been the subject of a number of research reports. Morgan Stanley restated an "equal weight" rating and issued a $28.00 price target on shares of Waystar in a report on Wednesday, September 16th. UBS Group reduced their target price on Waystar from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. KeyCorp reaffirmed an "overweight" rating on shares of Waystar in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $39.00 price objective on shares of Waystar in a research note on Friday, July 31st. Finally, Barclays lowered Waystar from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $27.00 to $30.00 in a research report on Tuesday, September 15th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.67.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software for managing healthcare payments and revenue cycle operations. Its platform connects healthcare providers, payers and patients to help streamline administrative and financial workflows across the healthcare system.

The company's products and services include eligibility and benefits verification, claims management and submission, prior authorization, payment processing, patient billing, denial management and revenue cycle analytics.

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