Waystar Holding Corp. (NASDAQ:WAY) Given Average Recommendation of "Buy" by Brokerages

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) has earned an average rating of "Buy" from the fourteen analysts that are covering the company, MarketBeat reports. Twelve investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $40.50.

A number of brokerages have recently weighed in on WAY. Canaccord Genuity Group dropped their price target on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays reduced their price target on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Truist Financial set a $50.00 target price on shares of Waystar and gave the stock a "buy" rating in a research report on Wednesday, May 7th.

Waystar Stock Down 0.7%

NASDAQ:WAY traded down $0.26 during mid-day trading on Tuesday, hitting $37.72. The company had a trading volume of 421,982 shares, compared to its average volume of 1,363,191. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.39. Waystar has a 1 year low of $20.26 and a 1 year high of $48.11. The business has a fifty day simple moving average of $38.74 and a 200-day simple moving average of $38.35. The firm has a market capitalization of $6.53 billion and a price-to-earnings ratio of 420.00.

Waystar (NASDAQ:WAY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Waystar had a return on equity of 3.10% and a net margin of 2.67%. The company had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts forecast that Waystar will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other Waystar news, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $37.39, for a total transaction of $153,723,638.23. Following the completion of the sale, the insider now owns 25,580,929 shares of the company's stock, valued at $956,470,935.31. This represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $36.36, for a total value of $313,532.28. Following the transaction, the chief technology officer now directly owns 438,044 shares of the company's stock, valued at $15,927,279.84. This represents a 1.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,664,620 shares of company stock worth $324,520,903 in the last three months. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Waystar

Several large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in Waystar by 2.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company's stock valued at $549,000 after acquiring an additional 304 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Waystar during the 4th quarter worth about $25,000. RiverPark Advisors LLC boosted its position in shares of Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock valued at $128,000 after acquiring an additional 710 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Waystar by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company's stock valued at $901,000 after acquiring an additional 960 shares during the period. Finally, Legato Capital Management LLC lifted its stake in Waystar by 8.4% during the first quarter. Legato Capital Management LLC now owns 12,398 shares of the company's stock worth $463,000 after purchasing an additional 960 shares during the period.

About Waystar

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