Waystar (NASDAQ:WAY) Stock: Insider Matthew Hawkins Sells 82,500 Shares

Waystar Holding Corp. (NASDAQ:WAY) CEO Matthew Hawkins sold 82,500 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $26.23, for a total transaction of $2,163,975.00. Following the transaction, the chief executive officer owned 1,804,794 shares of the company’s stock, valued at approximately $47,339,746.62. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Waystar Stock Performance

WAY stock traded down $0.63 during mid-day trading on Wednesday, hitting $25.77. The company had a trading volume of 1,773,022 shares, compared to its average volume of 2,587,997. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $4.94 billion, a PE ratio of 36.81, a price-to-earnings-growth ratio of 1.03 and a beta of 0.18. Waystar Holding Corp. has a 12 month low of $17.26 and a 12 month high of $40.35. The stock’s fifty day moving average price is $24.80 and its two-hundred day moving average price is $22.78.

Waystar (NASDAQ:WAY) last released its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $316.21 million. During the same period in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. On average, analysts forecast that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waystar

A number of institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in shares of Waystar in the second quarter valued at approximately $390,593,000. BlackRock Inc. bought a new stake in Waystar during the 2nd quarter worth approximately $357,950,000. Advent International L.P. purchased a new stake in Waystar in the 2nd quarter worth approximately $227,060,000. Goldman Sachs Group Inc. lifted its stake in Waystar by 33.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,827,474 shares of the company’s stock worth $92,600,000 after purchasing an additional 705,429 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in Waystar in the 2nd quarter valued at $58,960,000.

Analyst Ratings Changes

WAY has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $39.00 price objective on shares of Waystar in a report on Friday, July 31st. Needham & Company LLC restated a “buy” rating and set a $33.00 price target on shares of Waystar in a research note on Wednesday, August 26th. Truist Financial cut their price objective on shares of Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, August 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Waystar in a research note on Thursday, August 27th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $28.00 target price on shares of Waystar in a report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Waystar currently has a consensus rating of “Moderate Buy” and an average price target of $34.67.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software for managing healthcare payments and revenue cycle operations. Its platform connects healthcare providers, payers and patients to help streamline administrative and financial workflows across the healthcare system.

The company’s products and services include eligibility and benefits verification, claims management and submission, prior authorization, payment processing, patient billing, denial management and revenue cycle analytics.