Waystar Holding Corp. (NASDAQ:WAY) Receives $35.14 Consensus PT from Brokerages

Waystar Holding Corp. (NASDAQ:WAY) has received an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $35.1364.

A number of equities analysts have recently issued reports on the stock. KeyCorp reiterated an “overweight” rating on shares of Waystar in a report on Friday, July 31st. Wolfe Research raised Waystar to an “outperform” rating in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $39.00 price target on shares of Waystar in a research report on Friday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of Waystar in a report on Wednesday, August 26th. Finally, Weiss Ratings upgraded shares of Waystar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, September 3rd.

Insiders Place Their Bets

In other news, CEO Matthew Hawkins sold 82,500 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $25.97, for a total transaction of $2,142,525.00. Following the sale, the chief executive officer owned 1,804,794 shares in the company, valued at $46,870,500.18. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 165,000 shares of company stock valued at $4,206,524. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Waystar

Institutional investors have recently bought and sold shares of the business. Clarkston Capital Partners LLC acquired a new position in Waystar during the 1st quarter valued at approximately $22,917,000. Hsbc Holdings PLC bought a new position in Waystar during the first quarter valued at about $5,625,000. Bain Capital Venture Investors LLC bought a new stake in Waystar in the second quarter worth about $18,127,271. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Waystar in the second quarter worth about $43,314,000. Finally, Quantinno Capital Management LP raised its position in Waystar by 1,399.7% in the first quarter. Quantinno Capital Management LP now owns 163,915 shares of the company’s stock worth $3,952,000 after acquiring an additional 152,985 shares in the last quarter.

Waystar Price Performance

Shares of WAY opened at $23.47 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average is $23.79 and its two-hundred day moving average is $22.76. Waystar has a twelve month low of $17.26 and a twelve month high of $40.35. The firm has a market capitalization of $4.50 billion, a PE ratio of 33.53, a P/E/G ratio of 0.91 and a beta of 0.16.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The firm had revenue of $319.67 million for the quarter, compared to the consensus estimate of $316.21 million. During the same period in the previous year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts anticipate that Waystar will post 1.47 earnings per share for the current year.

Waystar Company Profile

Waystar Holding Corp. is a healthcare payments technology company that provides cloud-based software for managing administrative and financial processes across the healthcare system. Its platform connects healthcare providers, health plans and patients, helping organizations simplify complex transactions and improve the efficiency of the revenue cycle.

The company’s products and services include patient eligibility and coverage verification, claims management and submission, payment processing, prior authorization, denial and appeal management, patient billing, and related workflow automation.