BMO Capital Markets Begins Coverage on Waystar (NASDAQ:WAY)

BMO Capital Markets initiated coverage on shares of Waystar (NASDAQ:WAY) in a report released on Thursday, Marketbeat reports. The brokerage set an “outperform” rating and a $47.00 price target on the stock. BMO Capital Markets’ price target would indicate a potential upside of 33.07% from the company’s previous close.

A number of other brokerages also recently commented on WAY. Robert W. Baird started coverage on Waystar in a research report on Friday, September 5th. They issued an “outperform” rating and a $44.00 price objective for the company. Mizuho raised their price target on Waystar from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Needham & Company LLC began coverage on shares of Waystar in a research note on Tuesday. They set a “buy” rating and a $46.00 price objective for the company. Truist Financial increased their price objective on shares of Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, Baird R W raised shares of Waystar to a “strong-buy” rating in a research report on Friday, September 5th. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $48.07.

Waystar Stock Down 1.2%

WAY stock opened at $35.32 on Thursday. The company has a 50 day moving average price of $37.62 and a two-hundred day moving average price of $37.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89. The stock has a market capitalization of $6.76 billion, a P/E ratio of 56.97, a PEG ratio of 0.55 and a beta of 0.64. Waystar has a one year low of $29.29 and a one year high of $48.11.

Insiders Place Their Bets

In related news, Director Paul G. Moskowitz sold 4,295,139 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 13,759,910 shares in the company, valued at approximately $539,526,071.10. This trade represents a 23.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Hawkins sold 12,800 shares of Waystar stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $38.08, for a total transaction of $487,424.00. Following the transaction, the chief executive officer directly owned 717,474 shares in the company, valued at approximately $27,321,409.92. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 4,499,582 shares of company stock worth $176,383,770. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Waystar

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