Waystar (NASDAQ:WAY) Hits New 1-Year Low – Time to Sell?

Waystar Holding Corp. (NASDAQ:WAY) hit a new 52-week low on Wednesday . The company traded as low as $30.37 and last traded at $30.43, with a volume of 7160826 shares trading hands. The stock had previously closed at $33.21.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WAY shares. Barclays reduced their price target on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday. Robert W. Baird began coverage on Waystar in a research note on Friday, September 5th. They set an “outperform” rating and a $44.00 price target for the company. BMO Capital Markets assumed coverage on shares of Waystar in a research note on Thursday, November 13th. They issued an “outperform” rating and a $47.00 price objective on the stock. Baird R W upgraded shares of Waystar to a “strong-buy” rating in a research note on Friday, September 5th. Finally, Wall Street Zen downgraded Waystar from a “buy” rating to a “hold” rating in a research note on Saturday, November 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Waystar presently has a consensus rating of “Buy” and an average target price of $48.08.

Waystar Stock Down 8.4%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89. The firm’s 50-day moving average is $36.56 and its 200 day moving average is $37.31. The firm has a market capitalization of $5.82 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 0.50 and a beta of 0.63.

Insiders Place Their Bets

In related news, Director Paul G. Moskowitz sold 4,295,139 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $39.21, for a total value of $168,412,400.19. Following the completion of the transaction, the director owned 13,759,910 shares of the company’s stock, valued at approximately $539,526,071.10. The trade was a 23.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $35.27, for a total transaction of $342,154.27. Following the transaction, the insider directly owned 474,826 shares in the company, valued at $16,747,113.02. The trade was a 2.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 4,369,888 shares of company stock valued at $171,179,460. Insiders own 4.10% of the company’s stock.

Institutional Trading of Waystar

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Waystar by 35.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,289,810 shares of the company’s stock worth $466,030,000 after purchasing an additional 3,219,586 shares during the period. William Blair Investment Management LLC boosted its position in Waystar by 0.5% during the 3rd quarter. William Blair Investment Management LLC now owns 5,263,187 shares of the company’s stock worth $199,580,000 after purchasing an additional 23,822 shares during the period. Alliancebernstein L.P. raised its position in Waystar by 4.5% in the third quarter. Alliancebernstein L.P. now owns 3,415,442 shares of the company’s stock valued at $129,514,000 after purchasing an additional 146,510 shares during the period. Invesco Ltd. boosted its position in shares of Waystar by 63.0% in the third quarter. Invesco Ltd. now owns 3,130,230 shares of the company’s stock worth $118,698,000 after buying an additional 1,209,276 shares during the period. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Waystar during the 3rd quarter valued at about $95,497,000.

About Waystar

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