Waystar (NASDAQ:WAY) Trading Down 9.1% on Analyst Downgrade

Shares of Waystar Holding Corp. (NASDAQ:WAY) were down 9.1% on Monday after Citigroup lowered their price target on the stock from $49.00 to $46.00. Citigroup currently has a buy rating on the stock. Waystar traded as low as $32.28 and last traded at $31.3680. Approximately 1,261,244 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 1,478,437 shares. The stock had previously closed at $34.50.

A number of other equities analysts also recently weighed in on WAY. Zacks Research downgraded Waystar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Barclays cut their target price on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, December 8th. UBS Group initiated coverage on shares of Waystar in a report on Monday, December 15th. They issued a “buy” rating and a $41.00 price target on the stock. Wells Fargo & Company started coverage on Waystar in a report on Thursday. They set an “overweight” rating and a $41.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Waystar in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $47.21.

Insider Activity at Waystar

In other news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $32.82, for a total value of $318,386.82. Following the sale, the insider directly owned 474,826 shares of the company’s stock, valued at approximately $15,583,789.32. This represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $30.41, for a total transaction of $262,225.43. Following the completion of the transaction, the chief technology officer owned 422,371 shares of the company’s stock, valued at approximately $12,844,302.11. The trade was a 2.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,749 shares of company stock worth $1,718,384 over the last ninety days. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Waystar

Several hedge funds and other institutional investors have recently modified their holdings of the company. Verdence Capital Advisors LLC raised its holdings in Waystar by 5.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company’s stock valued at $289,000 after buying an additional 348 shares during the period. Nisa Investment Advisors LLC lifted 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 acquiring an additional 358 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of Waystar by 120.1% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock valued at $31,000 after acquiring an additional 449 shares during the period. BCS Private Wealth Management Inc. raised its stake in Waystar by 8.4% during the 3rd quarter. BCS Private Wealth Management Inc. now owns 7,455 shares of the company’s stock valued at $283,000 after acquiring an additional 575 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its position in shares of Waystar by 9.4% in the third quarter. Carnegie Investment Counsel now owns 7,002 shares of the company’s stock valued at $266,000 after acquiring an additional 600 shares in the last quarter.

Waystar Stock Performance

The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 50.92, a price-to-earnings-growth ratio of 0.43 and a beta of 0.76. The company’s fifty day simple moving average is $34.28 and its two-hundred day simple moving average is $36.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.