Waystar Holding Corp. (NASDAQ:WAY) Short Interest Up 44.0% in May

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 5,960,000 shares, a growth of 44.0% from the April 30th total of 4,140,000 shares. Based on an average daily volume of 2,100,000 shares, the short-interest ratio is currently 2.8 days. Currently, 5.2% of the shares of the company are sold short.

Analysts Set New Price Targets

WAY has been the topic of several research reports. Truist Financial set a $50.00 price objective on shares of Waystar and gave the company a "buy" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group upped their price objective on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Canaccord Genuity Group dropped their price objective 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. Barclays decreased their target price on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Jefferies Financial Group initiated coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price on the stock. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $40.50.

Waystar Trading Up 0.1%

Shares of NASDAQ:WAY traded up $0.06 during mid-day trading on Tuesday, reaching $39.83. The stock had a trading volume of 857,635 shares, compared to its average volume of 1,440,879. The firm has a market cap of $6.89 billion and a PE ratio of 442.52. The firm has a 50 day simple moving average of $38.01 and a two-hundred day simple moving average of $37.66. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar has a twelve month low of $20.26 and a twelve month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. The firm had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. The company's revenue for the quarter was up 14.1% on a year-over-year basis. On average, research analysts predict that Waystar will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Waystar

In other news, CTO Christopher L. Schremser sold 8,623 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $40.17, for a total transaction of $346,385.91. Following the sale, the chief technology officer now owns 438,044 shares in the company, valued at $17,596,227.48. 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. Also, CEO Matthew J. Hawkins sold 140,164 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $39.03, for a total transaction of $5,470,600.92. Following the sale, the chief executive officer now owns 764,131 shares in the company, valued at $29,824,032.93. This represents a 15.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,655,997 shares of company stock valued at $324,170,981 in the last ninety days. Company insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Waystar

Several hedge funds have recently modified their holdings of WAY. Global Retirement Partners LLC bought a new position in shares of Waystar in the 4th quarter valued at about $25,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Waystar in the 4th quarter valued at about $48,000. State of Wyoming bought a new position in shares of Waystar in the first quarter valued at $54,000. Quarry LP bought a new position in shares of Waystar in the first quarter valued at $60,000. Finally, Gen Wealth Partners Inc bought a new position in shares of Waystar in the fourth quarter valued at $92,000.

About Waystar

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