Summit Redstone upgraded shares of Qualys, Inc. (NASDAQ:QLYS) from a hold rating to a buy rating in a report issued on Wednesday morning, Marketbeat reports. The firm currently has $65.00 target price on the software maker’s stock.
Several other analysts have also recently commented on the company. Wells Fargo & Company set a $52.00 target price on Qualys and gave the stock a hold rating in a report on Wednesday. Needham & Company LLC restated a buy rating and set a $70.00 target price (up previously from $65.00) on shares of Qualys in a report on Wednesday. Robert W. Baird restated a hold rating and set a $61.00 target price on shares of Qualys in a report on Wednesday. KeyCorp restated a hold rating on shares of Qualys in a report on Friday, October 27th. Finally, Northland Securities set a $48.00 target price on Qualys and gave the stock a buy rating in a report on Wednesday, October 18th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $54.36.
Shares of Qualys (QLYS) traded up $0.10 during mid-day trading on Wednesday, hitting $57.35. The stock had a trading volume of 374,398 shares, compared to its average volume of 328,089. The company has a market capitalization of $2,151.89, a PE ratio of 52.14, a PEG ratio of 6.08 and a beta of 0.84. Qualys has a 12 month low of $30.60 and a 12 month high of $57.75.
Qualys (NASDAQ:QLYS) last announced its earnings results on Tuesday, October 31st. The software maker reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. The company had revenue of $59.49 million for the quarter, compared to analysts’ expectations of $58.59 million. Qualys had a return on equity of 14.81% and a net margin of 19.76%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. sell-side analysts anticipate that Qualys will post 0.65 earnings per share for the current year.
In other Qualys news, Chairman Philippe F. Courtot sold 20,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $56.01, for a total value of $1,120,200.00. Following the transaction, the chairman now owns 5,544,435 shares of the company’s stock, valued at $310,543,804.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey P. Hank sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $46.10, for a total value of $115,250.00. Following the sale, the director now directly owns 8,655 shares in the company, valued at approximately $398,995.50. The disclosure for this sale can be found here. Insiders sold 96,214 shares of company stock worth $4,973,589 in the last three months. Insiders own 30.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Qualys during the second quarter worth about $103,000. Ameritas Investment Partners Inc. raised its position in shares of Qualys by 17.4% during the second quarter. Ameritas Investment Partners Inc. now owns 2,757 shares of the software maker’s stock worth $112,000 after purchasing an additional 408 shares during the period. Victory Capital Management Inc. raised its position in shares of Qualys by 131.6% during the first quarter. Victory Capital Management Inc. now owns 3,847 shares of the software maker’s stock worth $146,000 after purchasing an additional 2,186 shares during the period. Thompson Davis & CO. Inc. raised its position in shares of Qualys by 1,100.0% during the third quarter. Thompson Davis & CO. Inc. now owns 3,000 shares of the software maker’s stock worth $155,000 after purchasing an additional 2,750 shares during the period. Finally, Pinebridge Investments L.P. raised its position in shares of Qualys by 2.9% during the second quarter. Pinebridge Investments L.P. now owns 3,952 shares of the software maker’s stock worth $161,000 after purchasing an additional 110 shares during the period. 73.47% of the stock is currently owned by institutional investors.
Qualys, Inc is a provider of cloud-based security and compliance solutions. The Company’s solutions enable organizations to identify security risks to their information technology (IT) infrastructures, help protect their IT systems and applications from cyber-attacks. Its suite of security and compliance solutions delivered on its Qualys Cloud Platform enables its customers to identify their IT assets, collect and analyze IT security data, discover and prioritize vulnerabilities, recommend remediation actions and verify the implementation of such actions.
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