Waystar (NASDAQ:WAY) Upgraded by Wells Fargo & Company to “Strong-Buy” Rating

Waystar (NASDAQ:WAY) was upgraded by analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

WAY has been the subject of a number of other reports. JMP Securities assumed coverage on Waystar in a research report on Thursday, September 18th. They set a “market outperform” rating and a $48.00 price objective for the company. UBS Group initiated coverage on shares of Waystar in a research report on Monday, December 15th. They issued a “buy” rating and a $41.00 price objective on the stock. Citizens Jmp initiated coverage on shares of Waystar in a report on Thursday, September 18th. They issued a “mkt outperform” rating and a $48.00 price objective on the stock. Canaccord Genuity Group set a $54.00 target price on shares of Waystar in a research note on Thursday, October 30th. Finally, Needham & Company LLC assumed coverage on Waystar in a report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $47.21.

Waystar Trading Up 4.3%

WAY opened at $34.50 on Thursday. The business has a fifty day moving average price of $34.28 and a 200 day moving average price of $36.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.89. Waystar has a 12 month low of $29.40 and a 12 month high of $48.11. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 55.65, a PEG ratio of 0.41 and a beta of 0.76.

Insider Activity

In related news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $36.94, for a total value of $358,354.94. Following the completion of the sale, the insider directly owned 474,826 shares of the company’s stock, valued at $17,540,072.44. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total value of $125,800.00. Following the transaction, the chief marketing officer directly owned 193,261 shares in the company, valued at approximately $7,150,657. The trade was a 1.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 49,749 shares of company stock worth $1,718,384. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Waystar

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Waystar by 11.3% during the 1st quarter. Royal Bank of Canada now owns 21,609 shares of the company’s stock worth $808,000 after buying an additional 2,195 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Waystar in the first quarter valued at approximately $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Waystar by 91.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,911 shares of the company’s stock worth $1,753,000 after acquiring an additional 22,364 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Waystar during the first quarter worth approximately $234,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Waystar by 13.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 747,268 shares of the company’s stock valued at $27,918,000 after acquiring an additional 88,256 shares during the period.

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.