Waystar Holding Corp. (NASDAQ:WAY) CTO Sells $297,407.27 in 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 on 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 sale, the chief technology officer directly owned 438,044 shares in the company, valued at $15,108,137.56. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Waystar Price Performance

NASDAQ:WAY traded up $0.10 during trading hours on Tuesday, reaching $34.58. 1,464,674 shares of the company were exchanged, compared to its average volume of 1,765,573. 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's 50-day moving average is $37.82 and its 200-day moving average is $38.71. The firm has a market cap of $6.03 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 0.63 and a beta of 0.79. Waystar Holding Corp. has a twelve month low of $24.53 and a twelve month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $270.65 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. On average, 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

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in shares of Waystar by 2.1% during 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 in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Waystar by 5.2% during the second quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company's stock worth $289,000 after buying an additional 348 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Waystar by 50.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company's stock worth $44,000 after buying an additional 358 shares in the last quarter. RiverPark Advisors LLC grew its holdings 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 buying an additional 710 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Waystar during the second quarter worth $33,000.

Analyst Ratings Changes

Several research firms have recently commented on WAY. Barclays dropped their price objective on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Truist Financial upped their price objective on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, July 17th. 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 for the company. Canaccord Genuity Group decreased their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Mizuho began coverage on shares of Waystar in a research note on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $42.31.

Waystar Company Profile

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

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