Waystar (NASDAQ:WAY) Sees Unusually-High Trading Volume – Here’s Why

Waystar Holding Corp. (NASDAQ:WAY) saw unusually-high trading volume on Friday . Approximately 4,080,643 shares traded hands during mid-day trading, an increase of 172% from the previous session’s volume of 1,501,059 shares.The stock last traded at $41.95 and had previously closed at $41.00.

Analyst Ratings Changes

Several brokerages have weighed in on WAY. Royal Bank of Canada raised 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. Jefferies Financial Group began coverage on shares of Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price for the company. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research note on Friday, November 22nd. Bank of America lifted their price objective on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Barclays upped their target price on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $39.64.

Waystar Price Performance

The business’s 50-day moving average is $38.98 and its 200-day moving average is $31.82. 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 (NASDAQ:WAY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The company had revenue of $244.10 million during the quarter, compared to analyst estimates of $232.29 million. On average, equities analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the completion of the transaction, the chief financial officer now owns 173,642 shares in the company, valued at approximately $5,884,727.38. This represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Waystar

A number of large investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in Waystar during the fourth quarter valued at $25,000. Amalgamated Bank purchased a new position in Waystar in the 3rd quarter valued at about $41,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Waystar in the 4th quarter worth about $48,000. Smithfield Trust Co purchased a new stake in Waystar during the 3rd quarter worth approximately $68,000. Finally, RiverPark Advisors LLC purchased a new stake in Waystar during the 3rd quarter worth approximately $78,000.

About Waystar

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