Waystar (NASDAQ:WAY) Shares Down 5.2% – Here’s What Happened

Waystar Holding Corp. (NASDAQ:WAY) fell 5.2% on Wednesday . The stock 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WAY shares. Barclays upped their price target on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday. 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 research note on Friday, November 22nd. The Goldman Sachs Group upped their price target on Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada boosted their target price on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Evercore ISI raised their price objective on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $39.64.

Waystar Price Performance

The stock’s 50-day moving average is $38.98 and its two-hundred day moving average is $31.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share 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. Research analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Insider Transactions at Waystar

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in shares of Waystar in the 4th quarter valued at approximately $25,000. Amalgamated Bank purchased a new stake in Waystar during the 3rd quarter valued at $41,000. Mark Sheptoff Financial Planning LLC bought a new stake in Waystar in the fourth quarter worth $48,000. Smithfield Trust Co purchased a new position in Waystar during the third quarter worth $68,000. Finally, RiverPark Advisors LLC bought a new position in Waystar during the third quarter valued at $78,000.

About Waystar

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