Qualys (NASDAQ:QLYS) Given New $170.00 Price Target at Canaccord Genuity Group

Qualys (NASDAQ:QLYS) had its target price increased by Canaccord Genuity Group from $160.00 to $170.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 9.62% from the company’s previous close.

Other analysts have also issued reports about the company. Morgan Stanley lifted their price target on Qualys from $123.00 to $126.00 and gave the stock an “underweight” rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on shares of Qualys from $150.00 to $162.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Scotiabank reduced their target price on shares of Qualys from $167.00 to $150.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Qualys in a research report on Wednesday, October 16th. They set a “hold” rating and a $135.00 price target on the stock. Finally, Westpark Capital reiterated a “hold” rating on shares of Qualys in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $152.80.

Qualys Stock Performance

Shares of NASDAQ QLYS opened at $155.08 on Wednesday. The firm has a fifty day moving average of $125.52 and a 200 day moving average of $136.45. The firm has a market cap of $5.71 billion, a PE ratio of 34.16 and a beta of 0.47. Qualys has a one year low of $119.17 and a one year high of $206.35.

Qualys (NASDAQ:QLYS) last released its earnings results on Tuesday, November 5th. The software maker reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.23. The business had revenue of $153.87 million during the quarter, compared to analysts’ expectations of $150.74 million. Qualys had a net margin of 29.36% and a return on equity of 44.80%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.24 earnings per share. On average, equities analysts predict that Qualys will post 3.94 EPS for the current fiscal year.

Insider Buying and Selling at Qualys

In other news, CEO Sumedh S. Thakar sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $125.21, for a total value of $876,470.00. Following the sale, the chief executive officer now directly owns 179,649 shares of the company’s stock, valued at approximately $22,493,851.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Bruce K. Posey sold 1,330 shares of Qualys stock in a transaction on Friday, September 20th. The stock was sold at an average price of $123.80, for a total value of $164,654.00. Following the completion of the sale, the insider now directly owns 55,618 shares of the company’s stock, valued at approximately $6,885,508.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sumedh S. Thakar sold 7,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $125.21, for a total value of $876,470.00. Following the completion of the sale, the chief executive officer now owns 179,649 shares in the company, valued at $22,493,851.29. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,919 shares of company stock valued at $1,360,140 over the last 90 days. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Qualys

Several institutional investors have recently bought and sold shares of QLYS. First Horizon Advisors Inc. boosted its stake in shares of Qualys by 294.7% in the second quarter. First Horizon Advisors Inc. now owns 225 shares of the software maker’s stock valued at $32,000 after purchasing an additional 168 shares during the period. UMB Bank n.a. boosted its position in Qualys by 149.0% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the software maker’s stock valued at $34,000 after buying an additional 143 shares during the period. Quarry LP acquired a new position in shares of Qualys in the second quarter worth $40,000. DT Investment Partners LLC purchased a new stake in shares of Qualys during the second quarter worth $41,000. Finally, Exchange Traded Concepts LLC raised its stake in shares of Qualys by 53.6% in the third quarter. Exchange Traded Concepts LLC now owns 639 shares of the software maker’s stock valued at $82,000 after acquiring an additional 223 shares in the last quarter. 99.31% of the stock is owned by institutional investors and hedge funds.

About Qualys

Qualys, Inc, together with its subsidiaries, provides cloud-based platform delivering information technology (IT), security, and compliance solutions in the United States and internationally. It offers Qualys Cloud Apps, which include Cybersecurity Asset Management and External Attack Surface Management; Vulnerability Management, Detection and Response; Web Application Scanning; Patch Management; Custom Assessment and Remediation; Multi-Vector Endpoint Detection and Response; Context Extended Detection and Response; Policy Compliance; File Integrity Monitoring; and Qualys TotalCloud, as well as Cloud Workload Protection, Cloud Detection and Response, Cloud Security Posture Management, Infrastructure as Code, and Container Security.