Matthew J. Hawkins Sells 46,667 Shares of Waystar Holding Corp. (NASDAQ:WAY) Stock

Key Points

• Waystar Holding Corp. CEO Matthew J. Hawkins sold 46,667 shares of stock for a total of $1,617,478.22, reducing his ownership in the company by 5.76%.
• The company reported quarterly earnings of $0.36 per share, exceeding analysts' expectations of $0.33, with a revenue of $270.65 million, up 15.4% year-over-year.
• Waystar has received favorable ratings from analysts, with a consensus rating of "Buy" and an average price target of $42.31, despite some recent target price adjustments.

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) CEO Matthew J. Hawkins sold 46,667 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $34.66, for a total transaction of $1,617,478.22. Following the transaction, the chief executive officer owned 764,131 shares in the company, valued at $26,484,780.46. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Waystar Stock Up 1.6%

WAY stock traded up $0.56 during mid-day trading on Friday, hitting $36.08. 1,408,887 shares of the company were exchanged, compared to its average volume of 1,773,052. The company has a market capitalization of $6.29 billion, a PE ratio of 75.17, a price-to-earnings-growth ratio of 0.66 and a beta of 0.79. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. Waystar Holding Corp. has a twelve month low of $24.94 and a twelve month high of $48.11. The firm has a fifty day simple moving average of $37.43 and a 200 day simple moving average of $38.59.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $270.65 million during the quarter, compared to analyst estimates of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The firm's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. On average, research analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Truist Financial raised their target price on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Canaccord Genuity Group cut their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Mizuho assumed coverage on shares of Waystar in a research note on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price on the stock. Finally, Citigroup began coverage on shares of Waystar in a research note on Wednesday, June 25th. They issued a "buy" rating and a $45.00 target price on the stock. Eleven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $43.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings 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 during the period. William Blair Investment Management LLC boosted its holdings in shares of Waystar by 23.9% in the 2nd quarter. William Blair Investment Management LLC now owns 5,239,365 shares of the company's stock valued at $214,133,000 after buying an additional 1,011,940 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in Waystar by 2.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company's stock valued at $127,798,000 after purchasing an additional 79,944 shares during the period. Alliancebernstein L.P. boosted its stake in Waystar by 3,883.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company's stock valued at $133,601,000 after purchasing an additional 3,186,869 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Waystar by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,376,932 shares of the company's stock valued at $97,155,000 after purchasing an additional 309,119 shares during the period.

About Waystar

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