Waystar (NASDAQ:WAY) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Waystar (NASDAQ:WAY) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm issued an overweight rating and a $41.00 price target on the stock.

WAY has been the topic of several other reports. Canaccord Genuity Group set a $54.00 target price on Waystar in a research report on Thursday, October 30th. Barclays lowered their price target on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, December 8th. Mizuho lifted their price objective on shares of Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. UBS Group started coverage on shares of Waystar in a research report on Monday, December 15th. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Wall Street Zen cut Waystar from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $47.21.

Waystar Trading Up 4.3%

Shares of Waystar stock opened at $34.50 on Thursday. The firm’s 50 day simple moving average is $34.28 and its two-hundred day simple moving average is $36.28. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 55.65, a PEG ratio of 0.43 and a beta of 0.76. Waystar has a 12-month low of $29.40 and a 12-month high of $48.11. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38.

Insider Buying and Selling at Waystar

In other news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $36.12, for a total value of $311,462.76. Following the sale, the chief technology officer owned 422,371 shares in the company, valued at $15,256,040.52. This trade represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $36.94, for a total transaction of $358,354.94. Following the transaction, the insider owned 474,826 shares of the company’s stock, valued at approximately $17,540,072.44. This trade represents a 2.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,749 shares of company stock valued at $1,718,384 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Verdence Capital Advisors LLC increased its position in shares of Waystar by 5.2% during the second quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company’s stock worth $289,000 after purchasing an additional 348 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Waystar by 50.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after purchasing an additional 358 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in Waystar by 120.1% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock worth $31,000 after purchasing an additional 449 shares during the last quarter. BCS Private Wealth Management Inc. grew its holdings in shares of Waystar by 8.4% during the third quarter. BCS Private Wealth Management Inc. now owns 7,455 shares of the company’s stock worth $283,000 after buying an additional 575 shares in the last quarter. Finally, Carnegie Investment Counsel raised its position in shares of Waystar by 9.4% in the third quarter. Carnegie Investment Counsel now owns 7,002 shares of the company’s stock valued at $266,000 after buying an additional 600 shares during the last quarter.

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.