Qualys (NASDAQ:QLYS) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Qualys (NASDAQ:QLYS) had its target price boosted by Canaccord Genuity Group from $160.00 to $170.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 12.82% from the stock’s current price.

QLYS has been the topic of a number of other reports. StockNews.com downgraded shares of Qualys from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Piper Sandler lowered their price objective on Qualys from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. UBS Group reduced their price objective on Qualys from $170.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Northland Securities reissued a “market perform” rating and issued a $140.00 price target (down from $150.00) on shares of Qualys in a report on Wednesday, August 7th. Finally, DA Davidson raised Qualys from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $150.36.

Qualys Price Performance

Shares of Qualys stock traded up $22.45 on Wednesday, hitting $150.68. 933,192 shares of the company’s stock traded hands, compared to its average volume of 432,308. Qualys has a one year low of $119.17 and a one year high of $206.35. The company has a fifty day moving average of $124.24 and a two-hundred day moving average of $136.16. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 33.17 and a beta of 0.47.

Qualys (NASDAQ:QLYS) last issued its quarterly earnings data 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 the consensus estimate of $148.80 million. Qualys had a return on equity of 44.80% and a net margin of 29.36%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 earnings per share. Equities research analysts anticipate that Qualys will post 3.94 earnings per share for the current year.

Insider Activity

In related news, insider Bruce K. Posey sold 1,330 shares of the company’s stock in a transaction dated 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 $6,885,508.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Bruce K. Posey sold 1,339 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $123.56, for a total value of $165,446.84. Following the completion of the transaction, the insider now directly owns 55,279 shares of the company’s stock, valued at $6,830,273.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now directly owns 55,618 shares of the company’s stock, valued at $6,885,508.40. 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 90 days, insiders have sold 10,919 shares of company stock worth $1,360,140. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Qualys

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Qualys by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,839,801 shares of the software maker’s stock valued at $640,748,000 after purchasing an additional 83,504 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Qualys by 14.5% during the third quarter. Boston Trust Walden Corp now owns 926,093 shares of the software maker’s stock worth $118,966,000 after purchasing an additional 117,079 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Qualys by 15.3% during the second quarter. Renaissance Technologies LLC now owns 474,100 shares of the software maker’s stock worth $67,607,000 after purchasing an additional 63,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Qualys by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 439,434 shares of the software maker’s stock worth $62,663,000 after purchasing an additional 3,357 shares in the last quarter. Finally, Van Berkom & Associates Inc. increased its position in shares of Qualys by 1.3% during the second quarter. Van Berkom & Associates Inc. now owns 372,338 shares of the software maker’s stock worth $53,095,000 after acquiring an additional 4,932 shares during the last quarter. Hedge funds and other institutional investors own 99.31% of the company’s stock.

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.