Waystar (NASDAQ:WAY) Trading Down 5.2% – Time to Sell?

Waystar Holding Corp. (NASDAQ:WAY) was down 5.2% on Wednesday . The company traded as low as $41.70 and last traded at $42.75. Approximately 520,396 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 1,310,092 shares. The stock had previously closed at $45.11.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WAY shares. The Goldman Sachs Group boosted their price target on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group assumed coverage on Waystar in a report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price target for the company. Royal Bank of Canada lifted their price objective on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Bank of America lifted their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Evercore ISI lifted their price objective on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $39.64.

Waystar Stock Down 4.7 %

The stock has a 50-day simple moving average of $38.64 and a 200-day simple moving average of $31.67. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar (NASDAQ:WAY) last posted 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 for the quarter, compared to analysts’ expectations of $232.29 million. On average, research analysts anticipate that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Waystar

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was 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. The trade was a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WAY. Norges Bank acquired a new position in shares of Waystar during the fourth quarter worth about $119,387,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Waystar during the fourth quarter worth about $56,804,000. Farallon Capital Management LLC acquired a new position in shares of Waystar during the fourth quarter worth about $49,251,000. Vanguard Group Inc. lifted its stake in shares of Waystar by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock worth $183,182,000 after acquiring an additional 1,054,180 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Waystar by 697.5% in the third quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock worth $30,724,000 after acquiring 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.