Canaccord Genuity Group Raises Qualys (NASDAQ:QLYS) Price Target to $170.00

Qualys (NASDAQ:QLYS) had its target price boosted by Canaccord Genuity Group from $160.00 to $170.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other brokerages have also recently issued reports on QLYS. StockNews.com cut Qualys from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Northland Securities reissued a “market perform” rating and issued a $140.00 price target (down previously from $150.00) on shares of Qualys in a report on Wednesday, August 7th. Wedbush dropped their price objective on Qualys from $190.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC started coverage on Qualys in a report on Wednesday. They issued a “hold” rating for the company. Finally, Jefferies Financial Group started coverage on Qualys in a report on Wednesday, October 16th. They set a “hold” rating and a $135.00 price objective on the stock. 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, the stock currently has an average rating of “Hold” and an average price target of $152.80.

Qualys Stock Performance

Shares of QLYS stock traded down $1.09 during trading hours on Wednesday, hitting $153.99. The company had a trading volume of 711,963 shares, compared to its average volume of 445,613. Qualys has a 12 month low of $119.17 and a 12 month high of $206.35. The firm’s fifty day moving average is $126.10 and its 200 day moving average is $136.35. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 33.92 and a beta of 0.47.

Qualys (NASDAQ:QLYS) last posted its quarterly earnings data on Tuesday, November 5th. The software maker reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.23. Qualys had a net margin of 28.72% and a return on equity of 40.24%. The firm had revenue of $153.87 million during the quarter, compared to analysts’ expectations of $150.74 million. During the same quarter in the previous year, the company posted $1.24 EPS. Qualys’s revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts expect that Qualys will post 3.94 EPS for the current fiscal year.

Insider Activity at Qualys

In other Qualys 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 in the company, valued at $6,830,273.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Bruce K. Posey sold 1,339 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $123.56, for a total transaction of $165,446.84. Following the completion of the sale, the insider now owns 55,279 shares in the company, valued at approximately $6,830,273.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sumedh S. Thakar sold 7,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 179,649 shares in the company, valued at approximately $22,493,851.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,919 shares of company stock valued at $1,360,140. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QLYS. First Horizon Advisors Inc. boosted its position 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 acquiring an additional 168 shares during the period. UMB Bank n.a. boosted its holdings 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 purchasing an additional 143 shares during the period. Quarry LP acquired a new position in shares of Qualys during the 2nd quarter worth approximately $40,000. DT Investment Partners LLC bought a new position in shares of Qualys during the second quarter worth approximately $41,000. Finally, Exchange Traded Concepts LLC boosted 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 buying an additional 223 shares during the period. 99.31% of the stock is owned by institutional investors and hedge funds.

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.