Insider Selling: Waystar (NASDAQ:WAY) CEO Sells $2,142,525.00 in Stock

Waystar Holding Corp. (NASDAQ:WAY) CEO Matthew Hawkins sold 82,500 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $25.97, for a total transaction of $2,142,525.00. Following the transaction, the chief executive officer directly owned 1,804,794 shares in the company, valued at approximately $46,870,500.18. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Waystar Stock Up 0.9%

Shares of WAY stock traded up $0.22 on Thursday, hitting $25.94. The stock had a trading volume of 831,038 shares, compared to its average volume of 2,652,307. The stock’s 50 day moving average is $23.33 and its 200-day moving average is $22.74. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 37.06, a P/E/G ratio of 1.00 and a beta of 0.16. Waystar Holding Corp. has a 52-week low of $17.26 and a 52-week high of $41.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The firm had revenue of $319.67 million for the quarter, compared to the consensus estimate of $316.21 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, research analysts expect that Waystar Holding Corp. will post 1.47 earnings per share for the current year.

Institutional Trading of Waystar

Institutional investors and hedge funds have recently bought and sold shares of the company. Kennedy Capital Management LLC lifted its holdings in Waystar by 0.5% during the 4th quarter. Kennedy Capital Management LLC now owns 106,207 shares of the company’s stock worth $3,478,000 after buying an additional 559 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Waystar by 22.1% in the 4th quarter. Pacer Advisors Inc. now owns 3,144 shares of the company’s stock valued at $103,000 after acquiring an additional 569 shares during the last quarter. State of Wyoming raised its position in shares of Waystar by 45.1% during the 2nd quarter. State of Wyoming now owns 2,098 shares of the company’s stock valued at $86,000 after acquiring an additional 652 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Waystar by 3.7% during the 4th quarter. ProShare Advisors LLC now owns 21,474 shares of the company’s stock valued at $703,000 after acquiring an additional 764 shares in the last quarter. Finally, Vinva Investment Management Ltd lifted its stake in Waystar by 9.3% during the fourth quarter. Vinva Investment Management Ltd now owns 9,202 shares of the company’s stock worth $301,000 after purchasing an additional 786 shares during the last quarter.

Wall Street Analysts Forecast Growth

WAY has been the topic of a number of analyst reports. Citigroup reaffirmed a “buy” rating on shares of Waystar in a research report on Monday, July 20th. Weiss Ratings downgraded Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Truist Financial lowered their price objective on Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. UBS Group cut their target price on Waystar from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $44.00 target price on shares of Waystar in a research note on Thursday, August 27th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.52.

Waystar Company Profile

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.