Waystar (NASDAQ:WAY) Price Target Lowered to $46.00 at Citigroup

Waystar (NASDAQ:WAY) had its price target dropped by equities researchers at Citigroup from $49.00 to $46.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 36.84% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JMP Securities assumed coverage on shares of Waystar in a research note on Thursday, September 18th. They issued a “market outperform” rating and a $48.00 price target on the stock. BMO Capital Markets started coverage on shares of Waystar in a report on Thursday, November 13th. They set an “outperform” rating and a $47.00 price target for the company. UBS Group assumed coverage on Waystar in a research report on Monday, December 15th. They set a “buy” rating and a $41.00 target price on the stock. Mizuho upped their target price on Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group set a $54.00 price objective on shares of Waystar in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $47.21.

Waystar Trading Up 1.6%

WAY stock traded up $0.54 during trading on Friday, reaching $33.62. 295,430 shares of the stock were exchanged, compared to its average volume of 1,275,354. The business has a 50 day moving average price of $34.31 and a 200-day moving average price of $36.32. Waystar has a 1 year low of $29.40 and a 1 year high of $48.11. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 54.22, a P/E/G ratio of 0.42 and a beta of 0.76.

Insider Buying and Selling at Waystar

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $36.12, for a total value of $311,462.76. Following the sale, the chief technology officer owned 422,371 shares of the company’s stock, valued at $15,256,040.52. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total transaction of $125,800.00. Following the transaction, the chief marketing officer directly owned 193,261 shares of the company’s stock, valued at approximately $7,150,657. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 49,749 shares of company stock worth $1,718,384. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Waystar

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Waystar by 35.5% during the third quarter. Vanguard Group Inc. now owns 12,289,810 shares of the company’s stock worth $466,030,000 after purchasing an additional 3,219,586 shares during the last quarter. Alliancebernstein L.P. increased its stake in Waystar by 3,883.4% during the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock worth $133,601,000 after acquiring an additional 3,186,869 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Waystar in the 3rd quarter valued at about $95,497,000. Alyeska Investment Group L.P. grew its holdings in shares of Waystar by 4,717.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,814,648 shares of the company’s stock worth $68,811,000 after purchasing an additional 1,776,979 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Waystar by 152.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,489,572 shares of the company’s stock worth $94,405,000 after purchasing an additional 1,504,026 shares in the last quarter.

About Waystar

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.