Waystar Holding Corp. (NASDAQ:WAY) Short Interest Update

Waystar Holding Corp. (NASDAQ:WAY) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 4,430,000 shares, a growth of 50.2% from the February 28th total of 2,950,000 shares. Currently, 4.6% of the company’s shares are sold short. Based on an average trading volume of 1,980,000 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Ratings Changes

WAY has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Truist Financial started coverage on shares of Waystar in a research report on Friday, March 14th. They set a “buy” rating and a $45.00 price target for the company. Canaccord Genuity Group boosted their price target on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, February 24th. Jefferies Financial Group initiated coverage on shares of Waystar in a research note on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price on the stock. Finally, Bank of America increased 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. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waystar has a consensus rating of “Buy” and a consensus target price of $40.75.

Waystar Stock Down 1.2 %

WAY stock opened at $37.36 on Tuesday. Waystar has a 1 year low of $20.26 and a 1 year high of $48.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The business has a 50 day simple moving average of $40.21 and a 200-day simple moving average of $34.48.

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

Insider Buying and Selling at Waystar

In other news, Director Paul G. Moskowitz sold 5,652,689 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $38.60, for a total transaction of $218,193,795.40. Following the transaction, the director now directly owns 22,327,728 shares in the company, valued at approximately $861,850,300.80. This trade represents a 20.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction on Friday, February 21st. The shares were sold at an average price of $42.15, for a total value of $143,310.00. Following the completion of the transaction, the chief marketing officer now owns 43,478 shares in the company, valued at $1,832,597.70. This represents a 7.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,356,171 shares of company stock valued at $526,733,651 in the last quarter.

Institutional Investors Weigh In On Waystar

Several hedge funds and other institutional investors have recently bought and sold shares of WAY. Charles Schwab Investment Management Inc. purchased a new stake in shares of Waystar in the 3rd quarter valued at approximately $10,224,000. Cerity Partners LLC lifted its holdings in Waystar by 1.5% in the third quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock valued at $1,302,000 after acquiring an additional 699 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Waystar in the third quarter worth approximately $526,000. FMR LLC acquired a new stake in Waystar during the third quarter worth $1,421,000. Finally, BNP Paribas Financial Markets purchased a new stake in Waystar in the third quarter valued at $1,006,000.

Waystar Company Profile

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