Waystar (NASDAQ:WAY) Upgraded by TD Cowen to "Strong-Buy" Rating

Waystar (NASDAQ:WAY - Get Free Report) was upgraded by equities research analysts at TD Cowen to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. 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. Canaccord Genuity Group lowered their price objective 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. The Goldman Sachs Group lifted their price objective on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Barclays reduced their target price on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Jefferies Financial Group initiated coverage on Waystar in a report on Tuesday, February 11th. They issued a "buy" rating and a $51.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $40.50.

Waystar Stock Performance

Shares of WAY opened at $41.16 on Thursday. The stock has a 50 day moving average price of $38.21 and a 200 day moving average price of $37.83. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $7.12 billion and a price-to-earnings ratio of 457.33. Waystar has a 52-week low of $20.26 and a 52-week high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The business had revenue of $256.44 million for the quarter, compared to analysts' expectations of $248.47 million. The business's revenue was up 14.1% compared to the same quarter last year. Research analysts predict that Waystar will post 0.39 EPS for the current fiscal year.

Insider Transactions at Waystar

In related news, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 25,580,929 shares of the company's stock, valued at approximately $956,470,935.31. The trade was a 13.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew J. Hawkins sold 140,164 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $39.03, for a total transaction of $5,470,600.92. Following the completion of the transaction, the chief executive officer now directly owns 764,131 shares of the company's stock, valued at $29,824,032.93. The trade was a 15.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,655,997 shares of company stock valued at $324,170,981 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in Waystar by 701.7% in the 3rd quarter. Barclays PLC now owns 64,934 shares of the company's stock valued at $1,811,000 after purchasing an additional 56,834 shares during the last quarter. Deutsche Bank AG grew its holdings in Waystar by 64.9% in the 4th quarter. Deutsche Bank AG now owns 34,847 shares of the company's stock valued at $1,279,000 after buying an additional 13,715 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Waystar during the 4th quarter valued at about $1,504,000. M&T Bank Corp increased its stake in shares of Waystar by 16.7% during the 4th quarter. M&T Bank Corp now owns 74,390 shares of the company's stock valued at $2,730,000 after acquiring an additional 10,644 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Waystar by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company's stock valued at $13,862,000 after acquiring an additional 11,117 shares during the last quarter.

About Waystar

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

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