Waystar (NASDAQ:WAY) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of Waystar (NASDAQ:WAY) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

WAY has been the subject of a number of other research reports. Citigroup upped their price objective on Waystar from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wall Street Zen lowered Waystar from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Canaccord Genuity Group set a $54.00 price target on Waystar in a research note on Thursday, October 30th. Baird R W upgraded shares of Waystar to a “strong-buy” rating in a research report on Friday, September 5th. Finally, Mizuho boosted their price objective on shares of Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $47.57.

Waystar Price Performance

WAY opened at $31.37 on Thursday. The company has a fifty day moving average price of $34.80 and a two-hundred day moving average price of $36.46. The firm has a market capitalization of $6.00 billion, a PE ratio of 50.60, a P/E/G ratio of 0.42 and a beta of 0.76. Waystar has a 52 week low of $29.40 and a 52 week high of $48.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89.

Insider Activity

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $36.12, for a total value of $311,462.76. Following the transaction, the chief technology officer owned 422,371 shares of the company’s stock, valued at approximately $15,256,040.52. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $32.82, for a total transaction of $318,386.82. Following the completion of the transaction, the insider owned 474,826 shares of the company’s stock, valued at $15,583,789.32. This trade represents a 2.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 58,372 shares of company stock worth $2,030,623 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Waystar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new position in Waystar in the 3rd quarter worth $25,000. ANTIPODES PARTNERS Ltd lifted its holdings in shares of Waystar by 120.1% in the third quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock valued at $31,000 after purchasing an additional 449 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Waystar during the second quarter worth about $33,000. First Horizon Corp bought a new position in shares of Waystar during the third quarter worth about $38,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Waystar by 50.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after buying an additional 358 shares in the last quarter.

Waystar Company Profile

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.