Waystar (NASDAQ:WAY) Sets New 12-Month High – Here’s What Happened

Waystar Holding Corp. (NASDAQ:WAY)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $37.21 and last traded at $37.06, with a volume of 25079 shares traded. The stock had previously closed at $36.93.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WAY. Bank of America raised their price objective on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Evercore ISI boosted their price objective on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group increased their target price on Waystar from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price objective on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $32.90.

Waystar Stock Performance

The stock’s 50-day moving average price is $30.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, equities analysts anticipate that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Insider Activity

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the transaction, the chief financial officer now owns 173,642 shares in the company, valued at $5,884,727.38. This represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in shares of Waystar during the second quarter worth $800,003,000. Deerfield Management Company L.P. Series C purchased a new stake in Waystar during the second quarter valued at approximately $106,468,000. TPG GP A LLC bought a new stake in shares of Waystar in the 2nd quarter valued at approximately $85,910,000. ArrowMark Colorado Holdings LLC increased its position in shares of Waystar by 36.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock valued at $94,890,000 after purchasing an additional 909,715 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in Waystar during the 2nd quarter valued at $28,357,000.

About Waystar

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