Qualys (NASDAQ:QLYS) Price Target Cut to $123.00

Qualys (NASDAQ:QLYS) had its price target dropped by analysts at Morgan Stanley from $136.00 to $123.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the software maker’s stock. Morgan Stanley’s target price would suggest a potential upside of 2.57% from the company’s previous close.

A number of other research analysts also recently issued reports on QLYS. Wedbush cut their target price on shares of Qualys from $190.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Scotiabank cut their price objective on shares of Qualys from $167.00 to $150.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Northland Securities reaffirmed a “market perform” rating and set a $140.00 target price (down previously from $150.00) on shares of Qualys in a report on Wednesday, August 7th. Piper Sandler cut their price target on Qualys from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Qualys in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $144.23.

Qualys Stock Down 1.3 %

Shares of NASDAQ QLYS opened at $119.92 on Wednesday. Qualys has a 12-month low of $119.32 and a 12-month high of $206.35. The firm’s 50-day simple moving average is $124.44 and its 200 day simple moving average is $138.90. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 26.41 and a beta of 0.46.

Qualys (NASDAQ:QLYS) last released its quarterly earnings results on Tuesday, August 6th. The software maker reported $1.52 EPS for the quarter, beating the consensus estimate of $1.32 by $0.20. Qualys had a net margin of 29.36% and a return on equity of 44.80%. The business had revenue of $148.70 million for the quarter, compared to analysts’ expectations of $148.80 million. During the same period in the prior year, the firm earned $0.95 earnings per share. Qualys’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts expect that Qualys will post 3.94 earnings per share for the current year.

Insider Buying and Selling

In other Qualys news, CFO Joo Mi Kim sold 634 shares of Qualys stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.19, for a total value of $77,468.46. Following the sale, the chief financial officer now owns 85,942 shares of the company’s stock, valued at $10,501,252.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Bruce K. Posey sold 1,330 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $123.80, for a total transaction of $164,654.00. Following the completion of the transaction, the insider now owns 55,618 shares in the company, valued at approximately $6,885,508.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joo Mi Kim sold 634 shares of Qualys stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.19, for a total transaction of $77,468.46. Following the completion of the sale, the chief financial officer now owns 85,942 shares in the company, valued at $10,501,252.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,535 shares of company stock valued at $1,442,641. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Qualys

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP bought a new stake in Qualys during the fourth quarter worth about $18,844,000. Roberts Wealth Advisors LLC bought a new stake in shares of Qualys during the 1st quarter worth approximately $863,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Qualys by 96.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,656 shares of the software maker’s stock valued at $5,116,000 after buying an additional 15,045 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Qualys by 36.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 20,576 shares of the software maker’s stock valued at $3,374,000 after buying an additional 5,508 shares in the last quarter. Finally, Norden Group LLC increased its holdings in Qualys by 1,806.6% during the first quarter. Norden Group LLC now owns 81,871 shares of the software maker’s stock worth $13,662,000 after buying an additional 77,577 shares during the last quarter. 99.31% of the stock is currently 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.