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

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) has received a consensus rating of "Buy" from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Twelve equities research 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 analysts that have issued a report on the stock in the last year is $42.3077.

A number of brokerages have recently issued reports on WAY. Mizuho started coverage on shares of Waystar in a research note on Monday, June 30th. They set an "outperform" rating and a $48.00 target price for the company. Canaccord Genuity Group dropped their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. TD Cowen raised shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Citigroup started coverage on Waystar in a report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price target for the company. Finally, Truist Financial increased their price objective on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th.

Insider Transactions at Waystar

In other Waystar news, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $37.39, for a total value of $153,723,638.23. Following the completion of the sale, the insider directly owned 25,580,929 shares in the company, valued at $956,470,935.31. This trade represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul G. Moskowitz sold 3,012,253 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $37.39, for a total value of $112,628,139.67. Following the transaction, the director directly owned 18,742,283 shares in the company, valued at approximately $700,773,961.37. The trade was a 13.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,770,103 shares of company stock worth $328,543,582. Company insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Waystar

Large investors have recently made changes to their positions in the stock. Central Pacific Bank Trust Division acquired a new stake in Waystar during the 2nd quarter worth about $33,000. Nisa Investment Advisors LLC boosted its position in Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company's stock valued at $44,000 after buying an additional 358 shares during the last quarter. State of Wyoming acquired a new position in Waystar in the 1st quarter worth approximately $54,000. Quarry LP purchased a new position in Waystar during the 1st quarter worth approximately $60,000. Finally, Gen Wealth Partners Inc acquired a new stake in Waystar during the 4th quarter valued at approximately $92,000.

Waystar Trading Up 2.0%

Shares of WAY traded up $0.68 during midday trading on Wednesday, hitting $34.59. The stock had a trading volume of 1,572,037 shares, compared to its average volume of 1,743,105. The stock's 50 day moving average is $37.92 and its 200 day moving average is $38.73. The firm has a market cap of $6.03 billion, a PE ratio of 72.06, a price-to-earnings-growth ratio of 0.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.43 and a quick ratio of 3.43. Waystar has a 1 year low of $23.64 and a 1 year high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The company had revenue of $270.65 million for the quarter, compared to the consensus estimate of $255.26 million. During the same period in the prior year, the firm posted $0.04 EPS. The firm's revenue was up 15.4% compared to the same quarter last year. As a group, 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.