Insider Selling: Waystar Holding Corp. (NASDAQ:WAY) Major Shareholder Sells $300,686,720.00 in Stock

Waystar Holding Corp. (NASDAQ:WAY) major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $40.00, for a total value of $300,686,720.00. Following the transaction, the insider now owns 29,692,286 shares of the company’s stock, valued at $1,187,691,440. The trade was a 20.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Waystar Stock Up 2.4 %

NASDAQ WAY opened at $43.47 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar Holding Corp. has a 1-year low of $20.26 and a 1-year high of $48.11. The company has a 50 day moving average of $39.82 and a 200-day moving average of $32.63.

Waystar (NASDAQ:WAY) last released its quarterly earnings results 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 business had revenue of $244.10 million during the quarter, compared to analyst estimates of $232.29 million. As a group, equities research analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Waystar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new stake in shares of Waystar in the fourth quarter valued at approximately $25,000. Mark Sheptoff Financial Planning LLC acquired a new position in Waystar during the fourth quarter valued at approximately $48,000. Amalgamated Bank acquired a new position in Waystar during the third quarter valued at approximately $41,000. Smithfield Trust Co acquired a new position in Waystar during the third quarter valued at approximately $68,000. Finally, Gen Wealth Partners Inc acquired a new position in Waystar during the fourth quarter valued at approximately $92,000.

Wall Street Analysts Forecast Growth

WAY has been the subject of a number of research analyst reports. Barclays lifted their price target on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI lifted their price target on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price target on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Bank of America raised their price objective on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Canaccord Genuity Group raised their price objective on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $40.36.

About Waystar

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