Insider Selling: Waystar Holding Corp. (NASDAQ:WAY) CTO Sells $349,921.34 in Stock

Waystar Holding Corp. (NASDAQ:WAY) CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $40.58, for a total value of $349,921.34. Following the completion of the sale, the chief technology officer now owns 438,044 shares in the company, valued at $17,775,825.52. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Waystar Stock Down 1.6%

WAY stock opened at $38.93 on Friday. Waystar Holding Corp. has a twelve month low of $20.26 and a twelve month high of $48.11. 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 stock’s 50 day moving average is $38.61 and its 200-day moving average is $38.14. The firm has a market capitalization of $6.74 billion and a PE ratio of 432.56.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on WAY shares. Barclays reduced their price target on Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. TD Cowen raised Waystar to a “strong-buy” rating in a research note on Thursday, June 5th. Canaccord Genuity Group decreased their target price on Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Truist Financial set a $50.00 target price on Waystar and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group raised their target price on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $40.50.

Institutional Trading of Waystar

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Waystar by 62.1% in the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock worth $302,263,000 after buying an additional 3,099,211 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of Waystar by 2.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company’s stock valued at $127,798,000 after purchasing an additional 79,944 shares in the last quarter. Norges Bank purchased a new position in shares of Waystar in the fourth quarter valued at $119,387,000. Invesco Ltd. grew its position in shares of Waystar by 9,107.1% in the first 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 in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of Waystar by 27.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,975,142 shares of the company’s stock valued at $73,791,000 after purchasing an additional 427,337 shares in the last quarter.

Waystar Company Profile

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