Waystar Holding Corp. (NASDAQ:WAY) Sees Large Decline in Short Interest

Waystar Holding Corp. (NASDAQ:WAY) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 7,514,927 shares, a drop of 17.4% from the December 31st total of 9,093,167 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average daily volume of 2,224,529 shares, the days-to-cover ratio is currently 3.4 days. Based on an average daily volume of 2,224,529 shares, the days-to-cover ratio is currently 3.4 days. Approximately 4.1% of the company’s stock are short sold.

Waystar Stock Down 0.6%

WAY opened at $26.56 on Monday. Waystar has a fifty-two week low of $26.20 and a fifty-two week high of $48.11. The firm has a market capitalization of $5.08 billion, a P/E ratio of 42.84, a PEG ratio of 0.33 and a beta of 0.77. The company’s 50-day moving average is $32.33 and its 200 day moving average is $35.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.89.

Insider Buying and Selling at Waystar

In other news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total transaction of $1,209,968.00. Following the transaction, the insider owned 474,826 shares in the company, valued at approximately $14,282,766.08. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were 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 of the company’s stock, valued at approximately $12,844,302.11. This represents a 2.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 80,273 shares of company stock valued at $2,569,997. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System increased its position in shares of Waystar by 10.3% during the fourth quarter. New York State Teachers Retirement System now owns 27,981 shares of the company’s stock valued at $916,000 after acquiring an additional 2,617 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in Waystar by 4.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 61,854 shares of the company’s stock valued at $2,026,000 after purchasing an additional 2,356 shares during the period. Renaissance Capital LLC bought a new position in Waystar in the 4th quarter valued at $2,273,000. Pictet Asset Management Holding SA increased its position in shares of Waystar by 9.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,893 shares of the company’s stock valued at $520,000 after purchasing an additional 1,399 shares during the last quarter. Finally, Mountain Pacific Investment Advisers LLC raised its stake in shares of Waystar by 75.3% during the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 78,103 shares of the company’s stock worth $2,558,000 after purchasing an additional 33,549 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WAY. Zacks Research cut Waystar from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Needham & Company LLC assumed coverage on shares of Waystar in a report on Tuesday, November 11th. They set a “buy” rating and a $46.00 price objective on the stock. Barclays reduced their price objective on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, December 8th. UBS Group started coverage on shares of Waystar in a report on Monday, December 15th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, Wells Fargo & Company began coverage on shares of Waystar in a research report on Thursday, January 8th. They issued an “overweight” rating and a $41.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $46.64.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.