Waystar (NASDAQ:WAY) Insider Eric (Ric) Sinclair III Sells 19,404 Shares

Key Points

• Waystar insider Eric (Ric) Sinclair III sold 19,404 shares at an average price of $40.03, totaling $776,742.12, reducing his ownership by 3.93%.
• The company's quarterly earnings showed an EPS of $0.36, surpassing estimates of $0.33, with a revenue of $270.65 million, reflecting a 15.4% increase year-over-year.
• Waystar has a consensus rating of "Buy" from analysts, with an average price target of $44.67 per share, as several brokerages have recently upgraded their ratings.

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) insider Eric (Ric) Sinclair III sold 19,404 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $40.03, for a total value of $776,742.12. Following the completion of the transaction, the insider directly owned 474,826 shares of the company's stock, valued at $19,007,284.78. The trade was a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Waystar Price Performance

NASDAQ WAY traded down $0.69 during trading hours on Wednesday, reaching $40.20. The company's stock had a trading volume of 1,312,212 shares, compared to its average volume of 1,848,767. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.43 and a quick ratio of 3.43. The company's 50-day moving average is $36.80 and its two-hundred day moving average is $37.98. Waystar Holding Corp. has a 1-year low of $25.76 and a 1-year high of $48.11. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 83.93, a P/E/G ratio of 0.75 and a beta of 0.78.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The business had revenue of $270.65 million during the quarter, compared to analyst estimates of $255.26 million. During the same period in the prior year, the business earned $0.04 earnings per share. The business's revenue was up 15.4% compared to the same quarter last year. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, equities analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WAY. Citigroup assumed 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. Baird R W raised shares of Waystar to a "strong-buy" rating in a research note on Friday, September 5th. Mizuho assumed coverage on shares of Waystar in a report on Monday, June 30th. They set an "outperform" rating and a $48.00 price target for the company. Truist Financial lifted their price target on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, TD Cowen upgraded Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Three investment analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company's stock. According to MarketBeat, Waystar presently has a consensus rating of "Buy" and an average target price of $44.67.

Institutional Investors Weigh In On Waystar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its stake in shares of Waystar by 3,883.4% in the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company's stock valued at $133,601,000 after buying an additional 3,186,869 shares in the last quarter. Vanguard Group Inc. increased its stake in Waystar by 62.1% during the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock worth $302,263,000 after purchasing an additional 3,099,211 shares during the period. Invesco Ltd. lifted its position in shares of Waystar by 9,107.1% during the first quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock worth $76,225,000 after purchasing an additional 2,018,125 shares in the last quarter. Norges Bank purchased a new position in shares of Waystar in the second quarter valued at approximately $46,577,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Waystar by 721.4% in the first quarter. Ameriprise Financial Inc. now owns 1,202,340 shares of the company's stock valued at $44,919,000 after purchasing an additional 1,055,965 shares in the last quarter.

About Waystar

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.