Waystar Holding Corp. (NASDAQ:WAY) Given Average Rating of “Buy” by Analysts

Waystar Holding Corp. (NASDAQ:WAY) has earned an average recommendation of “Buy” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Twelve analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $40.08.

A number of equities analysts recently weighed in on the stock. Truist Financial began coverage on shares of Waystar in a research note on Friday, March 14th. They issued a “buy” rating and a $45.00 target price for the company. Canaccord Genuity Group reduced their price objective on Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday. The Goldman Sachs Group boosted their target price on Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Jefferies Financial Group assumed coverage on shares of Waystar in a research note on Tuesday, February 11th. They set a “buy” rating and a $51.00 price target for the company. Finally, Barclays cut their price objective on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th.

Waystar Trading Up 3.1 %

Shares of Waystar stock opened at $40.68 on Monday. The stock’s fifty day simple moving average is $37.77 and its 200 day simple moving average is $36.02. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. Waystar has a 12 month low of $20.26 and a 12 month high of $48.11.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $256.44 million for the quarter, compared to analyst estimates of $248.47 million. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts expect that Waystar will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the completion of the sale, the insider now owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. This trade represents a 20.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider T. Craig Bridge sold 182,914 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the completion of the transaction, the insider now owns 519,658 shares in the company, valued at approximately $21,903,584.70. This trade represents a 26.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,411,461 shares of company stock valued at $528,743,995 over the last three months.

Institutional Trading of Waystar

Hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in Waystar in the 4th quarter valued at about $25,000. RiverPark Advisors LLC grew its stake in shares of Waystar by 25.5% in the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock valued at $128,000 after buying an additional 710 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Waystar by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company’s stock valued at $901,000 after buying an additional 960 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Waystar by 1.8% in the fourth quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company’s stock valued at $1,985,000 after purchasing an additional 964 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Waystar by 84.1% during the first quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock worth $101,000 after buying an additional 1,241 shares in 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.