Insider Selling: Waystar (NASDAQ:WAY) CEO Sells $2,163,975.00 in Stock

Waystar Holding Corp. (NASDAQ:WAY) CEO Matthew Hawkins sold 82,500 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $26.23, for a total value of $2,163,975.00. Following the completion of the sale, the chief executive officer directly owned 1,804,794 shares in the company, valued at approximately $47,339,746.62. The trade was a 4.37% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Waystar Trading Up 0.8%

Waystar stock opened at $26.68 on Friday. Waystar Holding Corp. has a 12 month low of $17.26 and a 12 month high of $40.35. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 38.11, a price-to-earnings-growth ratio of 1.03 and a beta of 0.18. The business’s fifty day simple moving average is $25.04 and its two-hundred day simple moving average is $22.83. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, beating 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 company had revenue of $319.67 million for the quarter, compared to the consensus estimate of $316.21 million. During the same period in the prior year, the firm posted $0.36 EPS. Waystar’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities analysts predict that Waystar Holding Corp. will post 1.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Waystar from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Canaccord Genuity Group boosted their price objective on Waystar from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Royal Bank Of Canada reiterated an “outperform” rating on shares of Waystar in a research note on Tuesday, September 15th. Morgan Stanley restated an “equal weight” rating and issued a $28.00 price target on shares of Waystar in a research note on Wednesday, September 16th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Waystar in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Waystar presently has an average rating of “Moderate Buy” and an average target price of $34.67.

Hedge Funds Weigh In On Waystar

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jupiter Topco LLC acquired a new position in Waystar during the 2nd quarter valued at about $58,960,000. Clarkston Capital Partners LLC acquired a new stake in Waystar in the 1st quarter valued at $22,917,000. Bain Capital Venture Investors LLC acquired a new stake in shares of Waystar in the second quarter worth approximately $18,127,271. Hsbc Holdings PLC purchased a new position in shares of Waystar during the 1st quarter worth $5,625,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Waystar in the second quarter valued at about $43,314,000.

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.