Waystar (NASDAQ:WAY) Coverage Initiated by Analysts at Truist Financial

Truist Financial initiated coverage on shares of Waystar (NASDAQ:WAY) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $45.00 target price on the stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group raised their price objective on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Jefferies Financial Group began coverage on shares of Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price on the stock. Canaccord Genuity Group increased their target price on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Barclays increased their target price on shares of Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, November 22nd. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.75.

Waystar Stock Up 3.4 %

WAY opened at $36.47 on Friday. The company has a 50 day moving average of $40.13 and a 200 day moving average of $33.62. Waystar has a 12 month low of $20.26 and a 12 month high of $48.11. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. Equities analysts expect that Waystar will post 0.39 EPS for the current fiscal year.

Insider Activity

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the transaction, the chief marketing officer now owns 43,478 shares of the company’s stock, valued at approximately $1,832,597.70. This trade represents a 7.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the transaction, the insider now directly owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. This represents a 20.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,356,171 shares of company stock worth $526,733,651.

Hedge Funds Weigh In On Waystar

Several institutional investors and hedge funds have recently made changes to their positions in WAY. Norges Bank bought a new position in shares of Waystar during the 4th quarter valued at $119,387,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Waystar during the 4th quarter valued at $56,804,000. Farallon Capital Management LLC bought a new stake in Waystar in the 4th quarter worth $49,251,000. Vanguard Group Inc. grew its holdings in Waystar by 26.8% in the 4th quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock worth $183,182,000 after acquiring an additional 1,054,180 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Waystar by 697.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock worth $30,724,000 after acquiring an additional 963,316 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.