Waystar (NASDAQ:WAY) Rating Lowered to Hold at Wall Street Zen

Waystar (NASDAQ:WAY) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

WAY has been the topic of several other reports. Baird R W upgraded shares of Waystar to a “strong-buy” rating in a research note on Friday, September 5th. Weiss Ratings restated a “hold (c)” rating on shares of Waystar in a research note on Wednesday, October 8th. BMO Capital Markets assumed coverage on Waystar in a research note on Thursday, November 13th. They set an “outperform” rating and a $47.00 target price for the company. Zacks Research raised Waystar from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Canaccord Genuity Group set a $54.00 price target on Waystar in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Waystar currently has a consensus rating of “Buy” and a consensus target price of $48.69.

Waystar Price Performance

Shares of WAY opened at $36.88 on Friday. 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 company’s fifty day simple moving average is $37.01 and its 200 day simple moving average is $37.58. Waystar has a 1-year low of $29.50 and a 1-year high of $48.11. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 59.48, a PEG ratio of 0.57 and a beta of 0.64.

Insider Activity at Waystar

In related news, insider T. Craig Bridge sold 85,000 shares of Waystar stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $40.06, for a total transaction of $3,405,100.00. Following the completion of the sale, the insider directly owned 583,355 shares of the company’s stock, valued at approximately $23,369,201.30. This trade represents a 12.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul G. Moskowitz sold 4,295,139 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $39.21, for a total value of $168,412,400.19. Following the completion of the transaction, the director directly owned 13,759,910 shares in the company, valued at approximately $539,526,071.10. This represents a 23.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,499,581 shares of company stock valued at $176,385,253 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

A number of hedge funds have recently bought and sold shares of WAY. PNC Financial Services Group Inc. boosted its holdings in Waystar by 2.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company’s stock valued at $549,000 after purchasing an additional 304 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of Waystar by 5.2% in the second quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company’s stock valued at $289,000 after buying an additional 348 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after buying an additional 358 shares during the period. ANTIPODES PARTNERS Ltd grew its position in Waystar by 120.1% during the third quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock worth $31,000 after buying an additional 449 shares in the last quarter. Finally, BCS Private Wealth Management Inc. increased its stake in 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 acquiring an additional 575 shares during the period.

Waystar Company Profile

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