Insider Selling: Waystar Holding Corp. (NASDAQ:WAY) CTO Sells 8,623 Shares of Stock

Key Points

• Waystar Holding Corp. CTO Christopher L. Schremser sold 8,623 shares for approximately $297,407.27, reducing his ownership stake by 1.93%.
• The company reported Q2 earnings of $0.36 per share, surpassing analysts' expectations, and a revenue increase of 15.4% year-over-year.
• Waystar has a market cap of $6.03 billion and has attracted interest from institutional investors, with PNC Financial Services increasing their holdings by 2.1% recently.

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) CTO Christopher L. Schremser sold 8,623 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $34.49, for a total transaction of $297,407.27. Following the completion of the transaction, the chief technology officer directly owned 438,044 shares of the company's stock, valued at approximately $15,108,137.56. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Waystar Stock Performance

Shares of NASDAQ:WAY traded up $0.56 during trading hours on Friday, hitting $36.08. The stock had a trading volume of 1,408,887 shares, compared to its average volume of 1,773,052. The stock's fifty day simple moving average is $37.43 and its 200 day simple moving average is $38.59. Waystar Holding Corp. has a 1-year low of $24.94 and a 1-year high of $48.11. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 75.17, a PEG ratio of 0.66 and a beta of 0.79. 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 - Get Free Report) last announced its quarterly 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. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The company had revenue of $270.65 million for the quarter, compared to analyst estimates of $255.26 million. During the same quarter last year, the business earned $0.04 earnings per share. Waystar's revenue was up 15.4% compared to the same quarter last year. Sell-side analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waystar

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in Waystar by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company's stock worth $549,000 after buying an additional 304 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Waystar by 5.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company's stock worth $289,000 after acquiring an additional 348 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Waystar by 50.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company's stock worth $44,000 after acquiring an additional 358 shares in the last quarter. RiverPark Advisors LLC raised its position in shares of Waystar by 25.5% during the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after purchasing an additional 710 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Waystar during the second quarter valued at $33,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WAY shares. TD Cowen raised shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Canaccord Genuity Group reduced their price target on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Truist Financial increased their price target on shares of Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Citigroup started coverage on shares of Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target on the stock. Finally, Mizuho assumed coverage on shares of Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Waystar presently has a consensus rating of "Buy" and an average price target of $43.25.

About Waystar

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