Waystar Holding Corp. (NASDAQ:WAY) Short Interest Down 29.9% in January

Waystar Holding Corp. (NASDAQ:WAY) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 4,040,000 shares, a decrease of 29.9% from the December 31st total of 5,760,000 shares. Based on an average daily volume of 1,180,000 shares, the short-interest ratio is presently 3.4 days. Approximately 5.2% of the shares of the company are sold short.

Insider Activity at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the transaction, the chief financial officer now owns 173,642 shares in the company, valued at $5,884,727.38. This represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Waystar

A number of institutional investors and hedge funds have recently made changes to their positions in WAY. Sei Investments Co. bought a new stake in shares of Waystar in the 2nd quarter worth about $1,435,000. Cubist Systematic Strategies LLC bought a new stake in shares of Waystar in the 2nd quarter worth about $145,000. Millennium Management LLC bought a new stake in shares of Waystar in the 2nd quarter worth about $8,171,000. Point72 Asset Management L.P. bought a new stake in shares of Waystar in the 2nd quarter worth about $813,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Waystar in the 2nd quarter worth about $27,950,000.

Waystar Stock Down 3.2 %

WAY opened at $40.19 on Friday. The company has a fifty day moving average of $35.77 and a 200 day moving average of $29.90. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $41.74. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

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

Analysts Set New Price Targets

Several research analysts have weighed in on WAY shares. Evercore ISI increased their price target on shares of Waystar from $32.00 to $36.00 and gave the stock 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 target on the stock in a research report on Friday, November 22nd. The Goldman Sachs Group increased their price target on shares of Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group increased their price target on shares of Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Bank of America increased their price target on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $35.10.

Waystar Company Profile

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