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

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) gapped down prior to trading on Tuesday after an insider sold shares in the company. 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 Waystar stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $40.17, for a total value of $346,385.91. Following the completion of the sale, the chief technology officer now directly owns 438,044 shares in the company, valued at approximately $17,596,227.48. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WAY shares. Barclays dropped their price target 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. The Goldman Sachs Group boosted their price objective on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Truist Financial set a $50.00 price objective on shares of Waystar and gave the company a "buy" rating in a research report on Wednesday, May 7th. Jefferies Financial Group assumed coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 price objective for the company. Finally, Canaccord Genuity Group lowered their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Waystar has a consensus rating of "Buy" and a consensus target price of $40.50.

Waystar Trading Up 0.2%

The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. The company has a market cap of $6.81 billion and a P/E ratio of 437.11. The firm's 50 day moving average is $37.64 and its two-hundred day moving average is $36.93.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. Waystar's revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.

Institutional Trading of Waystar

Several institutional investors have recently modified their holdings of WAY. Norges Bank bought a new stake in shares of Waystar in the fourth quarter worth $119,387,000. Vanguard Group Inc. boosted its position in Waystar by 62.1% during the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock valued at $302,263,000 after acquiring an additional 3,099,211 shares during the last quarter. Invesco Ltd. boosted its position in Waystar by 9,107.1% during the first quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock valued at $76,225,000 after acquiring an additional 2,018,125 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Waystar during the fourth quarter valued at $56,804,000. Finally, Farallon Capital Management LLC bought a new stake in Waystar during the fourth quarter valued at $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.