Waystar (NASDAQ:WAY) Sees Large Volume Increase – Still a Buy?

Shares of Waystar Holding Corp. (NASDAQ:WAY) saw an uptick in trading volume on Friday . 4,080,643 shares changed hands 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WAY shares. The Goldman Sachs Group increased their price target on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, November 22nd. Barclays increased their price objective on shares of Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada lifted their price objective on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group initiated coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price for the company. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and a consensus price target of $39.64.

Waystar Stock Performance

The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $38.98 and its 200-day moving average price is $31.82.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The company had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. As a group, sell-side analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Buying and Selling

In other Waystar 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 value of $564,810.74. Following the sale, the chief financial officer now owns 173,642 shares in the company, valued at $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Waystar during the 4th quarter worth $119,387,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Waystar in the fourth quarter worth about $56,804,000. Farallon Capital Management LLC bought a new position in Waystar during the 4th quarter worth about $49,251,000. Vanguard Group Inc. increased its position in Waystar by 26.8% during the 4th 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 raised its holdings 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 purchasing 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.