Waystar (NASDAQ:WAY) Raised to “Buy” at Wall Street Zen

Waystar (NASDAQ:WAY) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other equities analysts have also issued reports on WAY. Zacks Research lowered shares of Waystar from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Barclays dropped their target price on Waystar from $56.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, December 8th. Citigroup decreased their price target on Waystar from $49.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, January 9th. BMO Capital Markets started coverage on Waystar in a research note on Thursday, November 13th. They set an “outperform” rating and a $47.00 price target on the stock. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Waystar currently has an average rating of “Buy” and a consensus target price of $45.87.

Waystar Stock Up 0.7%

NASDAQ:WAY opened at $24.30 on Friday. The company’s 50-day simple moving average is $31.11 and its 200-day simple moving average is $34.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89. Waystar has a fifty-two week low of $23.23 and a fifty-two week high of $48.11. The stock has a market capitalization of $4.65 billion, a P/E ratio of 39.19, a P/E/G ratio of 0.30 and a beta of 0.75.

Insider Activity at Waystar

In other news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total value of $1,209,968.00. Following the sale, the insider owned 474,826 shares in the company, valued at $14,282,766.08. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total transaction of $125,800.00. Following the transaction, the chief marketing officer directly owned 193,261 shares of the company’s stock, valued at approximately $7,150,657. This trade represents a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,273 shares of company stock worth $2,569,997 over the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Waystar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Munro Partners lifted its stake in Waystar by 107.5% in the 3rd quarter. Munro Partners now owns 178,890 shares of the company’s stock valued at $6,784,000 after buying an additional 92,695 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Waystar by 2,923.3% during the third quarter. Thrivent Financial for Lutherans now owns 882,427 shares of the company’s stock valued at $33,461,000 after acquiring an additional 853,239 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Waystar in the third quarter valued at approximately $4,002,000. Oak Ridge Investments LLC acquired a new stake in shares of Waystar in the third quarter worth approximately $2,139,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Waystar during the third quarter worth approximately $1,703,000.

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.