Waystar Holding Corp. (NASDAQ:WAY) Short Interest Up 25.5% in December

Waystar Holding Corp. (NASDAQ:WAY) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 5,760,000 shares, a growth of 25.5% from the December 15th total of 4,590,000 shares. Currently, 7.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,060,000 shares, the days-to-cover ratio is presently 5.4 days.

Analysts Set New Price Targets

A number of analysts recently commented on WAY shares. Bank of America raised their price target on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Evercore ISI boosted their price target on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Friday, November 22nd. Canaccord Genuity Group upped their target price on Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group raised their target price on Waystar from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $35.10.

Waystar Stock Down 0.9 %

Shares of WAY stock opened at $37.36 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29. Waystar has a one year low of $20.26 and a one year high of $38.35. The company’s 50-day moving average is $33.87 and its 200 day moving average is $28.53.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $240.10 million for the quarter, compared to the consensus estimate of $223.82 million. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. Sell-side analysts forecast that Waystar will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Waystar

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total value of $564,810.74. Following the completion of the sale, the chief financial officer now owns 173,642 shares in the company, valued at approximately $5,884,727.38. This trade represents a 8.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Waystar

A number of large investors have recently made changes to their positions in WAY. Canada Pension Plan Investment Board purchased a new stake in Waystar in the second quarter worth approximately $800,003,000. Deerfield Management Company L.P. Series C bought a new position in shares of Waystar during the 2nd quarter valued at $106,468,000. TPG GP A LLC purchased a new position in shares of Waystar in the 2nd quarter worth $85,910,000. ArrowMark Colorado Holdings LLC grew its holdings in shares of Waystar by 36.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock worth $94,890,000 after acquiring an additional 909,715 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Waystar by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock valued at $37,531,000 after acquiring an additional 96,552 shares during the last quarter.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.