Waystar (NASDAQ:WAY) Reaches New 1-Year High – Here’s What Happened

Shares of Waystar Holding Corp. (NASDAQ:WAY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $38.44 and last traded at $37.82, with a volume of 83362 shares trading hands. The stock had previously closed at $37.47.

Analyst Ratings Changes

WAY has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Canaccord Genuity Group lifted their target price on shares of Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a report on Friday, November 22nd. Bank of America lifted their price objective on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada increased their target price on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waystar currently has an average rating of “Buy” and an average price target of $35.10.

Waystar Stock Up 1.4 %

The business has a 50-day moving average price of $34.23 and a 200 day moving average price of $28.86. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $223.82 million. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, sell-side analysts expect that Waystar Holding Corp. will post 0.03 EPS for the current year.

Insider Activity at Waystar

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WAY. Dakota Wealth Management purchased a new stake in shares of Waystar in the fourth quarter valued at approximately $264,000. Perpetual Ltd bought a new position in shares of Waystar during the 4th quarter worth $558,000. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Waystar during the fourth quarter valued at $1,905,000. JPMorgan Chase & Co. increased its stake in shares of Waystar by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock valued at $37,531,000 after buying an additional 96,552 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Waystar by 697.5% in the third quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock valued at $30,724,000 after acquiring an additional 963,316 shares in 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.