Waystar (NASDAQ:WAY) Shares Gap Down Following Insider Selling

Shares of Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $40.30, but opened at $38.74. Waystar shares last traded at $39.39, with a volume of 152,668 shares trading hands.

Specifically, CTO Christopher L. Schremser sold 8,623 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $40.17, for a total transaction of $346,385.91. Following the completion of the transaction, the chief technology officer now owns 438,044 shares in the company, valued at $17,596,227.48. This represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WAY shares. The Goldman Sachs Group upped their price target on shares of Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Jefferies Financial Group initiated coverage on shares of Waystar in a report on Tuesday, February 11th. They issued a "buy" rating and a $51.00 price objective for the company. Truist Financial set a $50.00 price objective on shares of Waystar and gave the company a "buy" rating in a report on Wednesday, May 7th. Barclays cut their price objective on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Canaccord Genuity Group cut their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waystar presently has a consensus rating of "Buy" and an average price target of $40.50.

Waystar Stock Performance

The firm's 50 day moving average price is $37.64 and its two-hundred day moving average price is $36.88. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The firm has a market cap of $6.81 billion and a PE ratio of 437.11.

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

Institutional Trading of Waystar

Several institutional investors have recently added to or reduced their stakes in WAY. Norges Bank acquired a new stake in Waystar in the 4th quarter valued at approximately $119,387,000. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 3,099,211 shares during the last quarter. Invesco Ltd. increased its holdings in Waystar by 9,107.1% in the 1st quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock valued at $76,225,000 after purchasing an additional 2,018,125 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Waystar in the 4th quarter valued at approximately $56,804,000. Finally, Farallon Capital Management LLC acquired a new stake in Waystar in the 4th quarter valued at approximately $49,251,000.

Waystar Company Profile

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