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

Shares of Waystar Holding Corp. (NASDAQ:WAY) have been assigned an average recommendation of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $40.36.

A number of equities research analysts have issued reports on WAY shares. Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Friday, November 22nd. Barclays raised their price objective on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group raised their price objective on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Jefferies Financial Group initiated coverage on Waystar in a research report on Tuesday, February 11th. They set a “buy” rating and a $51.00 price objective for the company. Finally, Bank of America raised their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 6th.

Insider Buying and Selling

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 173,642 shares of the company’s stock, valued at $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider T. Craig Bridge sold 182,914 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the completion of the sale, the insider now directly owns 519,658 shares of the company’s stock, valued at approximately $21,903,584.70. The trade was a 26.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,372,837 shares of company stock worth $527,298,461.

Institutional Trading of Waystar

Several institutional investors have recently added to or reduced their stakes in the company. 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 purchasing an additional 1,054,180 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake in shares of Waystar by 2.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company’s stock valued at $127,798,000 after acquiring an additional 79,944 shares in the last quarter. Norges Bank bought a new stake in shares of Waystar during the fourth quarter valued at approximately $119,387,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Waystar during the fourth quarter valued at approximately $56,804,000. Finally, American Century Companies Inc. raised its stake in shares of Waystar by 0.4% during the fourth quarter. American Century Companies Inc. now owns 1,476,236 shares of the company’s stock valued at $54,178,000 after acquiring an additional 6,409 shares in the last quarter.

Waystar Trading Down 8.0 %

Shares of WAY stock opened at $37.42 on Friday. Waystar has a 52-week low of $20.26 and a 52-week high of $48.11. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $40.18 and a two-hundred day simple moving average of $33.23.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analysts’ expectations of $232.29 million. As a group, analysts forecast that Waystar will post 0.39 earnings per share for the current fiscal year.

Waystar Company Profile

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