Waystar (NASDAQ:WAY) Raised to “Strong-Buy” at Wells Fargo & Company

Waystar (NASDAQ:WAY) was upgraded by Wells Fargo & Company to a “strong-buy” rating in a report issued on Thursday, MarketBeat.com reports.

WAY has been the topic of a number of other reports. Zacks Research lowered Waystar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Barclays dropped their price target on Waystar from $56.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, December 8th. Weiss Ratings restated a “hold (c)” rating on shares of Waystar in a report on Wednesday, October 8th. Mizuho upped their price objective on shares of Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Citigroup dropped their target price on shares of Waystar from $49.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Waystar has an average rating of “Buy” and a consensus target price of $47.21.

Waystar Price Performance

NASDAQ WAY opened at $34.50 on Thursday. Waystar has a 1 year low of $29.40 and a 1 year high of $48.11. The business’s fifty day moving average is $34.28 and its two-hundred day moving average is $36.30. The stock has a market capitalization of $6.60 billion, a P/E ratio of 55.65, a P/E/G ratio of 0.41 and a beta of 0.76. 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 the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $36.12, for a total transaction of $311,462.76. Following the completion of the sale, the chief technology officer directly owned 422,371 shares in the company, valued at approximately $15,256,040.52. This trade represents a 2.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 9,701 shares of Waystar stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $36.94, for a total value of $358,354.94. Following the transaction, the insider directly owned 474,826 shares in the company, valued at approximately $17,540,072.44. This trade represents a 2.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 49,749 shares of company stock worth $1,718,384. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Waystar

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in Waystar by 171.6% during the fourth quarter. SG Americas Securities LLC now owns 20,755 shares of the company’s stock valued at $680,000 after purchasing an additional 13,112 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in Waystar by 461.2% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,427 shares of the company’s stock worth $178,000 after buying an additional 4,460 shares in the last quarter. City Center Advisors LLC acquired a new stake in shares of Waystar during the 4th quarter valued at $325,000. GAMMA Investing LLC grew its holdings in shares of Waystar by 613.4% during the 4th quarter. GAMMA Investing LLC now owns 1,762 shares of the company’s stock valued at $58,000 after acquiring an additional 1,515 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Waystar by 152.6% in the third quarter. JPMorgan Chase & Co. now owns 2,489,572 shares of the company’s stock worth $94,405,000 after acquiring an additional 1,504,026 shares during the last quarter.

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.