Waystar (NASDAQ:WAY) Sees Large Volume Increase – Time to Buy?

Waystar Holding Corp. (NASDAQ:WAYGet Free Report) saw unusually-high trading volume on Friday . Approximately 4,080,643 shares were traded during trading, an increase of 172% from the previous session’s volume of 1,501,059 shares.The stock last traded at $41.95 and had previously closed at $41.00.

Wall Street Analysts Forecast Growth

WAY has been the topic of a number of research reports. Bank of America raised their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. The Goldman Sachs Group raised their price objective on Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a report on Friday, November 22nd. Evercore ISI raised their price objective on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Waystar has a consensus rating of “Buy” and a consensus price target of $39.64.

View Our Latest Analysis on WAY

Waystar Stock Performance

The stock has a 50-day moving average price of $39.14 and a two-hundred day moving average price of $32.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29.

Waystar (NASDAQ:WAYGet Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. Research analysts forecast that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Insider Transactions at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 173,642 shares in the company, valued at $5,884,727.38. The trade was a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Waystar

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Waystar by 26.8% during 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 in the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of Waystar by 2.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company’s stock valued at $127,798,000 after purchasing an additional 79,944 shares in the last quarter. Norges Bank bought a new stake in shares of Waystar during the fourth quarter valued at approximately $119,387,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Waystar during the fourth quarter valued at approximately $56,804,000. Finally, American Century Companies Inc. boosted its position in shares of Waystar by 0.4% during the fourth quarter. American Century Companies Inc. now owns 1,476,236 shares of the company’s stock valued at $54,178,000 after purchasing an additional 6,409 shares in the last quarter.

Waystar Company Profile

(Get Free Report)

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

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