Waystar (NASDAQ:WAY) Shares Down 5.4% – Time to Sell?

Waystar Holding Corp. (NASDAQ:WAY) shares traded down 5.4% during trading on Friday . The stock traded as low as $39.65 and last traded at $38.46. 253,019 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,257,580 shares. The stock had previously closed at $40.67.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Canaccord Genuity Group lifted their price target on Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Barclays lifted their price target on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group lifted their price target on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Friday, November 22nd. Finally, Bank of America boosted their target price on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Waystar currently has an average rating of “Buy” and a consensus price target of $40.36.

Waystar Stock Down 8.0 %

The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $40.18 and a 200-day moving average of $33.23.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to analysts’ expectations of $232.29 million. Analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Activity at Waystar

In related news, insider T. Craig Bridge sold 182,914 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $42.15, for a total value of $7,709,825.10. Following the completion of the transaction, the insider now owns 519,658 shares of the company’s stock, valued at $21,903,584.70. The trade was a 26.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the completion of the transaction, the insider now directly owns 29,692,286 shares of the company’s stock, valued at $1,187,691,440. This trade represents a 20.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,372,837 shares of company stock worth $527,298,461.

Hedge Funds Weigh In On Waystar

A number of large investors have recently bought and sold shares of WAY. Norges Bank bought a new position in Waystar in the fourth quarter worth approximately $119,387,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Waystar during the fourth quarter worth $56,804,000. Farallon Capital Management LLC acquired a new position in shares of Waystar during the fourth quarter worth $49,251,000. Vanguard Group Inc. increased its position in shares of Waystar by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock worth $183,182,000 after purchasing an additional 1,054,180 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Waystar by 697.5% during the third quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock worth $30,724,000 after purchasing an additional 963,316 shares in the last quarter.

Waystar Company Profile

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