Waystar (NASDAQ:WAY) Trading Down 4.2% – Time to Sell?

Shares of Waystar Holding Corp. (NASDAQ:WAY) fell 4.2% on Tuesday . The stock traded as low as $31.56 and last traded at $31.8140. 548,021 shares were traded during mid-day trading, a decline of 74% from the average session volume of 2,100,266 shares. The stock had previously closed at $33.21.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WAY. BMO Capital Markets assumed coverage on shares of Waystar in a report on Thursday, November 13th. They issued an “outperform” rating and a $47.00 target price on the stock. Wall Street Zen cut shares of Waystar from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Mizuho raised their price target on shares of Waystar from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. JMP Securities initiated coverage on shares of Waystar in a research report on Thursday, September 18th. They issued a “market outperform” rating and a $48.00 price objective on the stock. Finally, Baird R W upgraded shares of Waystar to a “strong-buy” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $48.08.

Waystar Trading Up 6.8%

The company has a market cap of $6.21 billion, a PE ratio of 25.76, a PEG ratio of 0.46 and a beta of 0.64. The stock has a 50 day moving average price of $36.42 and a 200 day moving average price of $37.26. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38.

Insider Buying and Selling at Waystar

In other news, Director Paul G. Moskowitz sold 4,295,139 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $39.21, for a total value of $168,412,400.19. Following the sale, the director directly owned 13,759,910 shares of the company’s stock, valued at $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 is available through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $30.41, for a total value of $262,225.43. Following the completion of the sale, the chief technology officer owned 422,371 shares in the company, valued at $12,844,302.11. The trade was a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,378,511 shares of company stock valued at $171,441,685 over the last three months. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Waystar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WAY. Salomon & Ludwin LLC purchased a new position in shares of Waystar in the third quarter worth $25,000. Central Pacific Bank Trust Division purchased a new stake in shares of Waystar during the second quarter valued at $33,000. ANTIPODES PARTNERS Ltd increased its holdings in Waystar by 120.1% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock worth $31,000 after buying an additional 449 shares in the last quarter. First Horizon Corp purchased a new position in Waystar in the 3rd quarter worth about $38,000. Finally, Nisa Investment Advisors LLC raised its position in Waystar by 50.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after buying an additional 358 shares during 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.