Waystar (NASDAQ:WAY - Free Report) had its price target upped by Truist Financial from $50.00 to $51.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.
A number of other brokerages also recently commented on WAY. TD Cowen raised shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Barclays decreased their price objective on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Mizuho began coverage on shares of Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price on the stock. Canaccord Genuity Group reduced their target price on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup initiated coverage on shares of Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 target price on the stock. Twelve analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $42.31.
Get Our Latest Analysis on WAY
Waystar Stock Down 1.0%
WAY stock traded down $0.36 during midday trading on Thursday, hitting $36.70. The company's stock had a trading volume of 1,073,463 shares, compared to its average volume of 1,419,219. The company has a market cap of $6.39 billion and a PE ratio of 407.82. Waystar has a 12 month low of $20.74 and a 12 month high of $48.11. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.39. The firm's 50-day moving average is $38.96 and its 200-day moving average is $38.93.
Waystar (NASDAQ:WAY - Get Free Report) last released 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. The company had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. Waystar had a return on equity of 3.10% and a net margin of 2.67%. Waystar's revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities research analysts forecast that Waystar will post 0.39 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Matthew J. Hawkins sold 197,847 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $38.53, for a total transaction of $7,623,044.91. Following the completion of the sale, the chief executive officer owned 764,131 shares of the company's stock, valued at $29,441,967.43. The trade was a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 25,580,929 shares of the company's stock, valued at $956,470,935.31. This represents a 13.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,684,024 shares of company stock worth $325,377,374. 4.10% of the stock is currently owned by insiders.
Institutional Trading of Waystar
Several large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Waystar in the 4th quarter valued at approximately $119,387,000. Vanguard Group Inc. grew its stake in shares of Waystar by 62.1% in the 1st quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock valued at $302,263,000 after buying an additional 3,099,211 shares during the period. Invesco Ltd. grew its stake in shares of Waystar by 9,107.1% in the 1st quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock valued at $76,225,000 after buying an additional 2,018,125 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Waystar in the 4th quarter valued at approximately $56,804,000. Finally, Farallon Capital Management LLC purchased a new stake in shares of Waystar in the 4th quarter valued at approximately $49,251,000.
About Waystar
(
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Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.
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