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

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WAY. 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. Royal Bank of Canada raised their price target on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI raised their price target on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays raised their price target on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Jefferies Financial Group began coverage on Waystar in a research note on Tuesday, February 11th. They set a “buy” rating and a $51.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Waystar presently has an average rating of “Buy” and an average target price of $39.64.

Waystar Stock Down 4.7 %

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

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analyst estimates of $232.29 million. As a group, research analysts forecast that Waystar Holding Corp. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total transaction of $564,810.74. Following the completion of the transaction, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at approximately $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 can be accessed through this link.

Hedge Funds Weigh In On Waystar

Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Waystar during the fourth quarter worth $1,309,000. Squarepoint Ops LLC raised its holdings in Waystar by 0.8% during the fourth quarter. Squarepoint Ops LLC now owns 201,548 shares of the company’s stock worth $7,397,000 after purchasing an additional 1,548 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of Waystar in the fourth quarter worth $517,000. Two Sigma Investments LP raised its holdings in shares of Waystar by 652.1% in the fourth quarter. Two Sigma Investments LP now owns 150,186 shares of the company’s stock worth $5,512,000 after acquiring an additional 130,218 shares during the last quarter. Finally, Sig Brokerage LP acquired a new position in shares of Waystar in the fourth quarter worth $1,015,000.

About Waystar

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