Waystar (NASDAQ:WAY) Sets New 12-Month High on Earnings Beat

Waystar Holding Corp. (NASDAQ:WAY) shares hit a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $48.11 and last traded at $45.64, with a volume of 572493 shares changing hands. The stock had previously closed at $45.35.

The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.15 by $0.11.

Analyst Ratings Changes

WAY has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research note on Friday, November 22nd. Evercore ISI lifted their price target on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Bank of America raised their price objective on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Canaccord Genuity Group upped their target price on Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Waystar has an average rating of “Buy” and an average price target of $36.55.

Insider Buying and Selling

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $33.89, for a total value of $564,810.74. Following the completion of the transaction, the chief financial officer now owns 173,642 shares of the company’s stock, valued at $5,884,727.38. The trade was a 8.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On Waystar

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Waystar during the 4th quarter worth approximately $119,387,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Waystar during the fourth quarter worth about $56,804,000. Farallon Capital Management LLC acquired a new stake in Waystar during the 4th quarter worth approximately $49,251,000. Vanguard Group Inc. boosted its holdings in Waystar by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock valued at $183,182,000 after purchasing an additional 1,054,180 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Waystar by 697.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock valued at $30,724,000 after buying an additional 963,316 shares during the period.

Waystar Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29. The business’s 50 day moving average is $38.40 and its 200 day moving average is $31.51.

Waystar Company Profile

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