Waystar Holding Corp. (NASDAQ:WAY) Short Interest Up 60.4% in September

Waystar Holding Corp. (NASDAQ:WAY) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 8,710,000 shares, an increase of 60.4% from the September 15th total of 5,430,000 shares. Based on an average daily trading volume, of 2,550,000 shares, the short-interest ratio is currently 3.4 days. Currently, 7.2% of the shares of the company are short sold. Currently, 7.2% of the shares of the company are short sold. Based on an average daily trading volume, of 2,550,000 shares, the short-interest ratio is currently 3.4 days.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Waystar in a research note on Thursday, September 18th. They issued an “outperform” rating for the company. Citizens Jmp initiated coverage on shares of Waystar in a research note on Thursday, September 18th. They issued a “mkt outperform” rating and a $48.00 price objective for the company. Truist Financial upped their target price on shares of Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Mizuho initiated coverage on shares of Waystar in a research report on Monday, June 30th. They set an “outperform” rating and a $48.00 target price for the company. Finally, Baird R W upgraded shares of Waystar to a “strong-buy” rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $45.50.

Insider Buying and Selling at Waystar

In other news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $36.94, for a total value of $358,354.94. Following the completion of the sale, the insider directly owned 474,826 shares of the company’s stock, valued at $17,540,072.44. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul G. Moskowitz sold 4,295,139 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $39.21, for a total transaction of $168,412,400.19. Following the completion of the sale, the director directly owned 13,759,910 shares of the company’s stock, valued at approximately $539,526,071.10. This trade represents a 23.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,546,249 shares of company stock valued at $177,987,193 in the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Waystar

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Waystar by 62.1% in the 1st quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock worth $302,263,000 after acquiring an additional 3,099,211 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Waystar by 23.9% during the 2nd quarter. William Blair Investment Management LLC now owns 5,239,365 shares of the company’s stock valued at $214,133,000 after buying an additional 1,011,940 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Waystar by 3,883.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after buying an additional 3,186,869 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Waystar by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,376,932 shares of the company’s stock valued at $97,155,000 after buying an additional 309,119 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Waystar by 10.7% during the 2nd quarter. Bank of America Corp DE now owns 2,087,680 shares of the company’s stock valued at $85,323,000 after buying an additional 201,262 shares in the last quarter.

Waystar Price Performance

WAY stock opened at $37.69 on Thursday. Waystar has a 52 week low of $27.05 and a 52 week high of $48.11. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $37.46 and a two-hundred day simple moving average of $37.75. The firm has a market capitalization of $6.57 billion, a P/E ratio of 78.52, a price-to-earnings-growth ratio of 0.68 and a beta of 0.69.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $270.65 million during the quarter, compared to analyst estimates of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. Waystar’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 earnings per share. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. Analysts anticipate that Waystar will post 0.39 earnings per share for the current fiscal year.

Waystar Company Profile

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