Waystar (NASDAQ:WAY) Stock Price Down 9.1% Following Analyst Downgrade

Waystar Holding Corp. (NASDAQ:WAY) was down 9.1% during mid-day trading on Monday after Citigroup lowered their price target on the stock from $49.00 to $46.00. Citigroup currently has a buy rating on the stock. Waystar traded as low as $32.28 and last traded at $31.3680. Approximately 1,261,244 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 1,478,437 shares. The stock had previously closed at $34.50.

A number of other analysts also recently commented on WAY. Citizens Jmp assumed coverage on Waystar in a research note on Thursday, September 18th. They issued a “mkt outperform” rating and a $48.00 target price on the stock. Wells Fargo & Company assumed coverage on shares of Waystar in a research note on Thursday, January 8th. They set an “overweight” rating and a $41.00 price objective on the stock. Needham & Company LLC started coverage on shares of Waystar in a research note on Tuesday, November 11th. They issued a “buy” rating and a $46.00 target price for the company. UBS Group initiated coverage on shares of Waystar in a research report on Monday, December 15th. They set a “buy” rating and a $41.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Waystar from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $47.21.

Insiders Place Their Bets

In other news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $37.00, for a total transaction of $125,800.00. Following the completion of the sale, the chief marketing officer owned 193,261 shares of the company’s stock, valued at $7,150,657. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $32.82, for a total transaction of $318,386.82. Following the completion of the transaction, the insider directly owned 474,826 shares in the company, valued at approximately $15,583,789.32. This represents a 2.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 49,749 shares of company stock worth $1,718,384. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Waystar

Several institutional investors have recently made changes to their positions in WAY. Verdence Capital Advisors LLC grew its position in Waystar by 5.2% in the second quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company’s stock worth $289,000 after acquiring an additional 348 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Waystar by 50.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after purchasing an additional 358 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in shares of Waystar by 120.1% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock worth $31,000 after purchasing an additional 449 shares during the period. BCS Private Wealth Management Inc. increased its position in shares of Waystar by 8.4% during the 3rd quarter. BCS Private Wealth Management Inc. now owns 7,455 shares of the company’s stock worth $283,000 after purchasing an additional 575 shares during the last quarter. Finally, Carnegie Investment Counsel increased its position in shares of Waystar by 9.4% during the 3rd quarter. Carnegie Investment Counsel now owns 7,002 shares of the company’s stock worth $266,000 after purchasing an additional 600 shares during the last quarter.

Waystar Stock Performance

The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $5.85 billion, a PE ratio of 49.32, a price-to-earnings-growth ratio of 0.39 and a beta of 0.76. The firm’s fifty day moving average is $34.03 and its 200-day moving average is $36.14.

About Waystar

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.