Waystar (NASDAQ:WAY) Reaches New 1-Year High After Earnings Beat

Shares of Waystar Holding Corp. (NASDAQ:WAY) reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $48.11 and last traded at $45.64, with a volume of 572493 shares trading hands. The stock had previously closed at $45.35.

The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million for the quarter, compared to analysts’ expectations of $232.29 million.

Wall Street Analyst Weigh In

Several research firms have issued reports on WAY. Barclays increased their price objective on shares of Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday. Canaccord Genuity Group increased their price objective on shares of Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Jefferies Financial Group assumed coverage on shares of Waystar in a report on Tuesday, February 11th. They set a “buy” rating and a $51.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $39.64.

Insider Buying and Selling at Waystar

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Waystar by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock worth $183,182,000 after acquiring an additional 1,054,180 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Waystar by 2.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company’s stock worth $127,798,000 after acquiring an additional 79,944 shares during the last quarter. Norges Bank purchased a new position in Waystar in the fourth quarter worth approximately $119,387,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Waystar during the fourth quarter worth approximately $56,804,000. Finally, American Century Companies Inc. raised its holdings in Waystar by 0.4% during the fourth quarter. American Century Companies Inc. now owns 1,476,236 shares of the company’s stock worth $54,178,000 after purchasing an additional 6,409 shares in the last quarter.

Waystar Stock Performance

The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $38.84 and its two-hundred day simple moving average is $31.76.

About Waystar

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