Waystar (NASDAQ:WAY) Sets New 12-Month High – Time to Buy?

Waystar Holding Corp. (NASDAQ:WAY)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $42.13 and last traded at $41.99, with a volume of 385904 shares traded. The stock had previously closed at $41.45.

Analysts Set New Price Targets

A number of equities analysts recently commented on WAY shares. Bank of America lifted their price target on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Friday, November 22nd. Canaccord Genuity Group lifted their price target on shares of Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Evercore ISI lifted their price target on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price target on Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $36.55.

Waystar Price Performance

The firm’s fifty day moving average is $37.01 and its two-hundred day moving average is $30.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29.

Insider Activity

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total transaction of $564,810.74. Following the completion of the sale, the chief financial officer now owns 173,642 shares in the company, valued at approximately $5,884,727.38. This represents a 8.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On Waystar

A number of institutional investors have recently bought and sold shares of WAY. ArrowMark Colorado Holdings LLC lifted its position in shares of Waystar by 36.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock worth $94,890,000 after purchasing an additional 909,715 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Waystar by 0.4% during the 4th quarter. American Century Companies Inc. now owns 1,476,236 shares of the company’s stock valued at $54,178,000 after acquiring an additional 6,409 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Waystar by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock valued at $37,531,000 after acquiring an additional 96,552 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Waystar by 4.3% during the 3rd quarter. Jennison Associates LLC now owns 1,129,164 shares of the company’s stock valued at $31,492,000 after acquiring an additional 46,264 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Waystar by 697.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock valued at $30,724,000 after acquiring an additional 963,316 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.