Qualys (NASDAQ:QLYS) Price Target Cut to $123.00 by Analysts at Morgan Stanley

Qualys (NASDAQ:QLYS) had its price target lowered by Morgan Stanley from $136.00 to $123.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the software maker’s stock.

QLYS has been the subject of a number of other research reports. Royal Bank of Canada cut their price target on shares of Qualys from $180.00 to $150.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Wedbush cut their price target on shares of Qualys from $190.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. TD Cowen cut their price target on shares of Qualys from $140.00 to $130.00 and set a “hold” rating for the company in a research note on Monday, October 7th. Truist Financial cut their price target on shares of Qualys from $165.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, DA Davidson upgraded shares of Qualys from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $144.23.

Qualys Trading Up 1.0 %

QLYS opened at $121.12 on Wednesday. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 26.68 and a beta of 0.46. Qualys has a 1-year low of $119.32 and a 1-year high of $206.35. The business has a 50 day moving average of $124.42 and a 200-day moving average of $138.39.

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

Insider Activity at Qualys

In related news, insider Bruce K. Posey sold 1,330 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 owns 55,618 shares of the company’s stock, valued at $6,885,508.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Qualys news, CEO Sumedh S. Thakar sold 7,000 shares of Qualys stock in a transaction on Monday, October 14th. The shares were sold at an average price of $125.21, for a total transaction of $876,470.00. Following the completion of the sale, the chief executive officer now 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 accessible through the SEC website. Also, 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 transaction of $164,654.00. Following the sale, the insider now directly owns 55,618 shares of the company’s stock, valued at $6,885,508.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,535 shares of company stock valued at $1,442,641 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Qualys

A number of institutional investors have recently bought and sold shares of the business. Financial Advocates Investment Management grew its holdings in Qualys by 8.9% during the 3rd quarter. Financial Advocates Investment Management now owns 2,508 shares of the software maker’s stock worth $322,000 after acquiring an additional 205 shares during the period. Smith Group Asset Management LLC grew its holdings in Qualys by 68.7% during the 3rd quarter. Smith Group Asset Management LLC now owns 4,236 shares of the software maker’s stock worth $544,000 after acquiring an additional 1,725 shares during the period. Tributary Capital Management LLC grew its holdings in Qualys by 24.7% during the 3rd quarter. Tributary Capital Management LLC now owns 4,384 shares of the software maker’s stock worth $563,000 after acquiring an additional 867 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Qualys by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 4,267 shares of the software maker’s stock worth $548,000 after purchasing an additional 290 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Qualys by 3.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 20,576 shares of the software maker’s stock worth $2,652,000 after purchasing an additional 774 shares in the last quarter. Institutional investors and hedge funds own 99.31% of the company’s stock.

Qualys Company Profile

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.