Waystar (NASDAQ:WAY) Research Coverage Started at Truist Financial

Truist Financial initiated coverage on shares of Waystar (NASDAQ:WAY) in a report published on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $45.00 price target on the stock.

A number of other equities analysts also recently weighed in on the stock. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Friday, November 22nd. Bank of America lifted their price target on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Canaccord Genuity Group lifted their price target on shares of Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Jefferies Financial Group assumed coverage on shares of Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price target for the company. Finally, Barclays lifted their price target on shares of Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Waystar has an average rating of “Buy” and an average price target of $40.75.

Waystar Trading Up 3.4 %

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

Waystar (NASDAQ:WAY) last announced its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million for the quarter, compared to the consensus estimate of $232.29 million. On average, equities research analysts predict that Waystar will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Waystar news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the completion of the sale, the insider now directly owns 29,692,286 shares of the company’s stock, valued at approximately $1,187,691,440. This represents a 20.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider T. Craig Bridge sold 182,914 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the completion of the sale, the insider now directly owns 519,658 shares of the company’s stock, valued at $21,903,584.70. The trade was a 26.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,356,171 shares of company stock worth $526,733,651 in the last quarter.

Institutional Investors Weigh In On Waystar

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Waystar by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock worth $37,531,000 after purchasing an additional 96,552 shares in the last quarter. M&T Bank Corp grew its position in shares of Waystar by 116.6% during the 3rd quarter. M&T Bank Corp now owns 63,746 shares of the company’s stock valued at $1,778,000 after acquiring an additional 34,316 shares during the period. Barclays PLC grew its position in shares of Waystar by 701.7% during the 3rd quarter. Barclays PLC now owns 64,934 shares of the company’s stock valued at $1,811,000 after acquiring an additional 56,834 shares during the period. State Street Corp bought a new position in shares of Waystar during the 3rd quarter valued at approximately $16,816,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Waystar during the 3rd quarter valued at approximately $10,224,000.

About Waystar

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