Waystar Holding Corp. (NASDAQ:WAY) Receives Consensus Rating of “Buy” from Brokerages

Waystar Holding Corp. (NASDAQ:WAY) has received a consensus recommendation of “Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $40.50.

WAY has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price target on shares of Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group upped their target price on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Truist Financial set a $50.00 target price on shares of Waystar and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Barclays cut their target price on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Finally, TD Cowen upgraded shares of Waystar to a “strong-buy” rating in a research report on Thursday, June 5th.

Insider Buying and Selling

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $40.58, for a total transaction of $349,921.34. Following the completion of the transaction, the chief technology officer now owns 438,044 shares of the company’s stock, valued at approximately $17,775,825.52. This trade represents a 1.93% 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, CEO Matthew J. Hawkins sold 140,164 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $39.03, for a total transaction of $5,470,600.92. Following the transaction, the chief executive officer now directly owns 764,131 shares of the company’s stock, valued at $29,824,032.93. This represents a 15.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,664,620 shares of company stock valued at $324,520,903 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Waystar

A number of institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Waystar by 88.1% during the first quarter. Rhumbline Advisers now owns 113,177 shares of the company’s stock valued at $4,228,000 after buying an additional 53,021 shares during the last quarter. Strs Ohio purchased a new stake in Waystar in the first quarter worth approximately $1,564,000. Intech Investment Management LLC boosted its holdings in Waystar by 94.9% in the first quarter. Intech Investment Management LLC now owns 36,622 shares of the company’s stock worth $1,368,000 after purchasing an additional 17,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Waystar by 380.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 171,338 shares of the company’s stock worth $6,401,000 after purchasing an additional 135,661 shares during the last quarter. Finally, Zimmer Partners LP purchased a new stake in Waystar in the first quarter worth approximately $11,208,000.

Waystar Price Performance

Shares of NASDAQ WAY opened at $38.74 on Tuesday. Waystar has a twelve month low of $20.26 and a twelve month high of $48.11. The stock’s 50 day moving average price is $38.68 and its 200-day moving average price is $38.30. The company has a market capitalization of $6.70 billion and a PE ratio of 430.44. 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 (NASDAQ:WAY) last announced its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $256.44 million during the quarter, compared to analysts’ expectations of $248.47 million. The business’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Waystar will post 0.39 EPS for the current year.

Waystar Company Profile

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