Waystar Holding Corp. (NASDAQ:WAY) Receives $40.75 Consensus PT from Analysts

Waystar Holding Corp. (NASDAQ:WAY) has received a consensus recommendation of “Buy” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $40.75.

A number of research analysts have commented on the company. Truist Financial assumed coverage on Waystar in a research note on Friday, March 14th. They issued a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group assumed coverage on Waystar in a report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group increased their price target on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Finally, Barclays lifted their price objective on shares of Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th.

Insider Activity

In other news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the sale, the insider now owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. This trade represents a 20.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $42.15, for a total transaction of $143,310.00. Following the transaction, the chief marketing officer now directly owns 43,478 shares in the company, valued at $1,832,597.70. This trade represents a 7.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,356,171 shares of company stock valued at $526,733,651.

Institutional Investors Weigh In On Waystar

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. acquired a new position in Waystar in the 3rd quarter valued at approximately $10,224,000. Cerity Partners LLC increased its position in shares of Waystar by 1.5% during the third quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock valued at $1,302,000 after purchasing an additional 699 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Waystar in the third quarter valued at $526,000. FMR LLC acquired a new position in shares of Waystar in the third quarter valued at $1,421,000. Finally, BNP Paribas Financial Markets bought a new position in Waystar in the third quarter worth $1,006,000.

Waystar Price Performance

WAY stock opened at $35.76 on Thursday. The firm has a 50 day simple moving average of $40.02 and a 200 day simple moving average of $34.81. Waystar has a 52 week low of $20.26 and a 52 week high of $48.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55.

Waystar (NASDAQ:WAY) last issued its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The company had revenue of $244.10 million for the quarter, compared to analyst estimates of $232.29 million. On average, equities 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.