Zacks Research Downgrades Waystar (NASDAQ:WAY) to Hold

Waystar (NASDAQ:WAY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Citigroup lifted their price target on Waystar from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waystar in a report on Wednesday, October 8th. Baird R W upgraded shares of Waystar to a “strong-buy” rating in a research note on Friday, September 5th. Canaccord Genuity Group set a $54.00 price target on shares of Waystar in a report on Thursday, October 30th. Finally, Wall Street Zen lowered shares of Waystar from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Two research 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. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $47.57.

Waystar Stock Performance

NASDAQ WAY opened at $31.37 on Thursday. The firm has a market capitalization of $6.00 billion, a P/E ratio of 50.60, a PEG ratio of 0.42 and a beta of 0.76. The stock has a 50-day simple moving average of $34.80 and a two-hundred day simple moving average of $36.46. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89. Waystar has a fifty-two week low of $29.40 and a fifty-two week high of $48.11.

Insider Activity at Waystar

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the stock in a transaction 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 transaction, the insider directly owned 474,826 shares of the company’s stock, valued at $15,583,789.32. This trade represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total transaction of $125,800.00. Following the sale, the chief marketing officer directly owned 193,261 shares of the company’s stock, valued at $7,150,657. This represents a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 58,372 shares of company stock valued at $2,030,623. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC purchased a new stake in Waystar during the 3rd quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd lifted its position 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 acquiring an additional 449 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Waystar in the second quarter worth approximately $33,000. First Horizon Corp purchased a new stake in shares of Waystar during the third quarter worth approximately $38,000. Finally, Nisa Investment Advisors LLC raised its stake in 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.

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.