Qualys (NASDAQ:QLYS) Shares Gap Up Following Earnings Beat

Qualys, Inc. (NASDAQ:QLYS)’s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $128.23, but opened at $153.75. Qualys shares last traded at $148.63, with a volume of 397,348 shares changing hands.

The software maker reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.23. Qualys had a return on equity of 44.80% and a net margin of 29.36%. The firm had revenue of $153.87 million for the quarter, compared to analysts’ expectations of $150.74 million. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Qualys from $123.00 to $126.00 and gave the company an “underweight” rating in a research note on Wednesday. Wedbush lowered their price objective on shares of Qualys from $190.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Scotiabank reduced their target price on shares of Qualys from $167.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC initiated coverage on Qualys in a report on Wednesday. They issued a “hold” rating for the company. Finally, Northland Securities reissued a “market perform” rating and issued a $140.00 price objective (down previously from $150.00) on shares of Qualys in a research note on Wednesday, August 7th. Three investment 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $152.80.

Insider Buying and Selling

In other Qualys news, insider Bruce K. Posey sold 1,330 shares of Qualys stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Bruce K. Posey sold 1,330 shares of the business’s stock in a transaction dated 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 owns 55,618 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joo Mi Kim sold 616 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $123.54, for a total transaction of $76,100.64. Following the completion of the transaction, the chief financial officer now directly owns 86,576 shares of the company’s stock, valued at $10,695,599.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,919 shares of company stock worth $1,360,140 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Qualys

Large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. lifted its position in Qualys by 294.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 225 shares of the software maker’s stock worth $32,000 after acquiring an additional 168 shares during the period. UMB Bank n.a. lifted its holdings in shares of Qualys by 149.0% during the second quarter. UMB Bank n.a. now owns 239 shares of the software maker’s stock worth $34,000 after purchasing an additional 143 shares during the period. Quarry LP purchased a new stake in Qualys in the second quarter valued at approximately $40,000. DT Investment Partners LLC acquired a new position in Qualys in the 2nd quarter worth approximately $41,000. Finally, Exchange Traded Concepts LLC raised its position in Qualys by 53.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 639 shares of the software maker’s stock worth $82,000 after buying an additional 223 shares during the last quarter. 99.31% of the stock is owned by hedge funds and other institutional investors.

Qualys Stock Performance

The firm’s 50 day simple moving average is $125.52 and its 200 day simple moving average is $136.45. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 34.16 and a beta of 0.47.

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.