Matthew Hawkins Sells 22,462 Shares of Waystar (NASDAQ:WAY) Stock

Waystar Holding Corp. (NASDAQ:WAY) CEO Matthew Hawkins sold 22,462 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $25.04, for a total transaction of $562,448.48. Following the completion of the transaction, the chief executive officer directly owned 1,835,081 shares in the company, valued at $45,950,428.24. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Waystar Stock Performance

Shares of WAY stock traded up $0.54 during midday trading on Thursday, hitting $25.08. 2,301,045 shares of the company were exchanged, compared to its average volume of 2,704,600. Waystar Holding Corp. has a 52 week low of $17.26 and a 52 week high of $41.47. The firm has a market capitalization of $4.81 billion, a P/E ratio of 35.83, a PEG ratio of 0.95 and a beta of 0.06. The firm’s 50 day moving average price is $21.42 and its two-hundred day moving average price is $22.80. 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 for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $319.67 million for the quarter, compared to analysts’ expectations of $316.21 million. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts anticipate that Waystar Holding Corp. will post 1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WAY shares. Weiss Ratings cut Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Wall Street Zen lowered Waystar from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Wolfe Research upgraded Waystar to an “outperform” rating in a research report on Thursday. Citigroup reissued a “buy” rating on shares of Waystar in a report on Monday, July 20th. Finally, Truist Financial reduced their target price on shares of Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Waystar currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Institutional Investors Weigh In On Waystar

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Waystar in the 2nd quarter valued at $357,950,000. Advent International L.P. acquired a new stake in shares of Waystar during the 4th quarter worth $362,212,000. Alliancebernstein L.P. increased its position in shares of Waystar by 3,883.4% in the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock worth $133,601,000 after purchasing an additional 3,186,869 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Waystar in the second quarter worth $43,314,000. Finally, Alyeska Investment Group L.P. raised its stake in Waystar by 4,717.4% in the third quarter. Alyeska Investment Group L.P. now owns 1,814,648 shares of the company’s stock valued at $68,811,000 after purchasing an additional 1,776,979 shares in the last quarter.

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.