Waystar Holding Corp. (NASDAQ:WAY) Stock Has Consensus Price Target of $34.90

Shares of Waystar Holding Corp. (NASDAQ:WAY) have been assigned an average recommendation of “Moderate Buy” from the twenty-three research firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $34.90.

A number of brokerages have commented on WAY. Royal Bank Of Canada reiterated an “outperform” rating on shares of Waystar in a report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $39.00 target price on shares of Waystar in a report on Friday, July 31st. Weiss Ratings upgraded Waystar from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Truist Financial cut their price objective on Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Canaccord Genuity Group boosted their target price on shares of Waystar from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, August 31st.

Insider Activity

In related news, CEO Matthew Hawkins sold 82,500 shares of the firm’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $26.23, for a total value of $2,163,975.00. Following the completion of the transaction, the chief executive officer directly owned 1,804,794 shares of the company’s stock, valued at approximately $47,339,746.62. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 247,500 shares of company stock worth $6,370,499. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd grew its stake in shares of Waystar by 341.3% during the 3rd quarter. Covestor Ltd now owns 15,193 shares of the company’s stock worth $385,000 after purchasing an additional 11,750 shares during the period. Ascent Group LLC raised its stake in shares of Waystar by 17.4% during the third quarter. Ascent Group LLC now owns 21,629 shares of the company’s stock valued at $548,000 after purchasing an additional 3,205 shares in the last quarter. Mountain Pacific Investment Advisers LLC lifted its position in shares of Waystar by 7.5% in the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 61,456 shares of the company’s stock valued at $1,557,000 after acquiring an additional 4,292 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Waystar by 3.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 27,100 shares of the company’s stock worth $687,000 after buying an additional 900 shares during the last quarter. Finally, ARGA Investment Management LP grew its position in Waystar by 99.9% in the 3rd quarter. ARGA Investment Management LP now owns 128,827 shares of the company’s stock worth $3,264,000 after purchasing an additional 64,377 shares during the last quarter.

Waystar Stock Performance

Waystar stock opened at $28.00 on Friday. The company has a market capitalization of $5.37 billion, a PE ratio of 40.00, a P/E/G ratio of 1.09 and a beta of 0.11. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.36. Waystar has a twelve month low of $17.26 and a twelve month high of $38.10. The firm has a fifty day simple moving average of $26.17 and a two-hundred day simple moving average of $23.98.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software designed to simplify administrative and financial processes across the healthcare industry. Its platform connects healthcare providers, health plans and patients, helping organizations manage revenue cycle operations and improve the flow of information and payments.

The company’s products and services include electronic claims management, eligibility and benefits verification, prior authorization, payment integrity, denial management, patient estimates and payments, billing automation, and healthcare analytics.