Waystar Holding Corp. (NASDAQ:WAY) Sees Large Decline in Short Interest

Waystar Holding Corp. (NASDAQ:WAY) was the target of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 6,378,242 shares, a decrease of 15.1% from the January 15th total of 7,514,927 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily volume of 1,941,449 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily volume of 1,941,449 shares, the days-to-cover ratio is presently 3.3 days. Currently, 3.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WAY shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Waystar in a research note on Wednesday, January 21st. UBS Group began coverage on Waystar in a research report on Monday, December 15th. They issued a “buy” rating and a $41.00 price target for the company. Needham & Company LLC initiated coverage on shares of Waystar in a research report on Tuesday, November 11th. They set a “buy” rating and a $46.00 price objective on the stock. BMO Capital Markets began coverage on shares of Waystar in a research note on Thursday, November 13th. They set an “outperform” rating and a $47.00 price objective for the company. Finally, Mizuho set a $42.00 target price on shares of Waystar in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Waystar has a consensus rating of “Buy” and a consensus target price of $45.50.

Waystar Stock Up 3.1%

WAY opened at $22.41 on Monday. Waystar has a twelve month low of $21.45 and a twelve month high of $48.11. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $29.88 and a 200-day moving average price of $34.39. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 0.28 and a beta of 0.77.

Insider Buying and Selling at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $37.00, for a total value of $125,800.00. Following the sale, the chief marketing officer owned 193,261 shares in the company, valued at approximately $7,150,657. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $30.41, for a total transaction of $262,225.43. Following the transaction, the chief technology officer directly owned 422,371 shares of the company’s stock, valued at $12,844,302.11. This represents a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 71,650 shares of company stock valued at $2,258,535. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Waystar

Several institutional investors have recently made changes to their positions in WAY. Vanguard Group Inc. increased its holdings in Waystar by 35.5% during the third quarter. Vanguard Group Inc. now owns 12,289,810 shares of the company’s stock valued at $466,030,000 after buying an additional 3,219,586 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Waystar by 3,883.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after acquiring an additional 3,186,869 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of Waystar in the 3rd quarter worth $95,497,000. Alyeska Investment Group L.P. raised its holdings in Waystar by 4,717.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,814,648 shares of the company’s stock worth $68,811,000 after purchasing an additional 1,776,979 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Waystar by 152.6% during the third quarter. JPMorgan Chase & Co. now owns 2,489,572 shares of the company’s stock valued at $94,405,000 after purchasing an additional 1,504,026 shares in the last quarter.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.