Waystar (NASDAQ:WAY) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of Waystar (NASDAQ:WAY) in a report issued on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $47.00 price objective on the stock.

Other research analysts have also issued reports about the stock. Mizuho raised their price objective on shares of Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Truist Financial lifted their price target on Waystar from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Citizens Jmp initiated coverage on Waystar in a report on Thursday, September 18th. They set a “mkt outperform” rating and a $48.00 price objective for the company. Robert W. Baird started coverage on Waystar in a research note on Friday, September 5th. They issued an “outperform” rating and a $44.00 price objective for the company. Finally, Citigroup lifted their target price on Waystar from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waystar currently has a consensus rating of “Buy” and an average price target of $48.07.

Waystar Stock Down 1.2%

Waystar stock traded down $0.43 during mid-day trading on Thursday, reaching $35.32. The stock had a trading volume of 1,421,651 shares, compared to its average volume of 2,140,332. The firm has a market capitalization of $6.76 billion, a PE ratio of 56.97, a price-to-earnings-growth ratio of 0.57 and a beta of 0.64. Waystar has a fifty-two week low of $29.29 and a fifty-two week high of $48.11. The stock’s 50-day simple moving average is $37.66 and its 200-day simple moving average is $37.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89.

Insiders Place Their Bets

In related news, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $40.03, for a total transaction of $776,742.12. Following the completion of the sale, the insider owned 474,826 shares in the company, valued at approximately $19,007,284.78. This trade represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $40.49, for a total transaction of $674,806.34. Following the transaction, the chief financial officer directly owned 354,512 shares of the company’s stock, valued at $14,354,190.88. This represents a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,499,582 shares of company stock valued at $176,383,770. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Waystar

Several institutional investors have recently bought and sold shares of WAY. Salomon & Ludwin LLC purchased a new stake in Waystar in the third quarter worth $25,000. Central Pacific Bank Trust Division purchased a new stake in Waystar in the 2nd quarter worth about $33,000. ANTIPODES PARTNERS Ltd raised its stake in 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. First Horizon Corp bought a new stake in Waystar in the 3rd quarter valued at about $38,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Waystar by 50.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after purchasing an additional 358 shares during the last quarter.

Waystar Company Profile

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