Waystar Holding Corp. (NASDAQ:WAY) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Waystar Holding Corp. has received a consensus rating of "Buy" from 14 brokerages, with an average 1-year price target of $42.31.
• The company's earnings per share for the most recent quarter exceeded analysts' expectations, reporting $0.36 EPS versus the anticipated $0.33.
• Notable insider activity includes CEO Matthew J. Hawkins selling 46,667 shares, representing a 5.76% decrease in his ownership stake.

Shares of Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) have been assigned an average recommendation of "Buy" from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $42.3077.

WAY has been the subject of several recent analyst reports. Citigroup initiated coverage on Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 target price for the company. Barclays reduced their target price on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Mizuho started coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price for the company. Truist Financial upped their price objective on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th.

Insider Buying and Selling

In other Waystar news, insider T. Craig Bridge sold 85,000 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the completion of the transaction, the insider owned 682,843 shares of the company's stock, valued at $25,326,646.87. This represents a 11.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $37.10, for a total value of $359,944.20. Following the transaction, the insider directly owned 490,870 shares of the company's stock, valued at $18,211,277. The trade was a 1.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,778,726 shares of company stock worth $328,889,968. Insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in shares of Waystar by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company's stock worth $549,000 after acquiring an additional 304 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Waystar by 5.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company's stock worth $289,000 after acquiring an additional 348 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Waystar by 50.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company's stock worth $44,000 after acquiring an additional 358 shares during the period. RiverPark Advisors LLC grew its holdings in shares of Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after acquiring an additional 710 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Waystar during the 2nd quarter worth approximately $33,000.

Waystar Stock Performance

NASDAQ:WAY traded down $0.84 during trading hours on Wednesday, reaching $33.99. The stock had a trading volume of 2,503,066 shares, compared to its average volume of 1,700,658. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. The stock has a 50 day simple moving average of $38.21 and a 200 day simple moving average of $38.81. Waystar has a 12-month low of $21.49 and a 12-month high of $48.11. The stock has a market cap of $5.92 billion, a P/E ratio of 70.81, a price-to-earnings-growth ratio of 0.64 and a beta of 0.79.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $270.65 million during the quarter, compared to analysts' expectations of $255.26 million. Waystar had a return on equity of 5.65% and a net margin of 8.50%. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. On average, research analysts forecast that Waystar will post 0.39 EPS 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.