Qualys (NASDAQ:QLYS) Price Target Cut to $150.00

Qualys (NASDAQ:QLYS) had its target price dropped by investment analysts at Royal Bank of Canada from $180.00 to $150.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the software maker’s stock. Royal Bank of Canada’s price target points to a potential upside of 18.20% from the stock’s previous close.

Several other research analysts also recently weighed in on QLYS. StockNews.com downgraded shares of Qualys from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial dropped their price objective on shares of Qualys from $165.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday. Robert W. Baird dropped their price objective on shares of Qualys from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Qualys in a research note on Wednesday. Finally, Scotiabank initiated coverage on shares of Qualys in a research note on Friday, April 26th. They issued a “sector perform” rating and a $172.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Qualys has an average rating of “Hold” and a consensus target price of $155.08.

Qualys Trading Down 7.4 %

QLYS stock traded down $10.20 on Wednesday, hitting $126.90. The company had a trading volume of 927,976 shares, compared to its average volume of 452,630. Qualys has a 12-month low of $121.64 and a 12-month high of $206.35. The stock’s 50-day simple moving average is $140.53 and its 200 day simple moving average is $157.54. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 29.46 and a beta of 0.49.

Qualys (NASDAQ:QLYS) last released its quarterly earnings results on Tuesday, August 6th. The software maker reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.20. Qualys had a net margin of 28.48% and a return on equity of 47.28%. The business had revenue of $148.70 million for the quarter, compared to the consensus estimate of $148.80 million. During the same period last year, the firm earned $0.95 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts forecast that Qualys will post 3.42 earnings per share for the current year.

Insider Buying and Selling at Qualys

In other Qualys news, CEO Sumedh S. Thakar sold 7,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $136.78, for a total value of $957,460.00. Following the completion of the sale, the chief executive officer now directly owns 186,601 shares of the company’s stock, valued at approximately $25,523,284.78. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Sumedh S. Thakar sold 7,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $136.78, for a total value of $957,460.00. Following the completion of the sale, the chief executive officer now owns 186,601 shares in the company, valued at approximately $25,523,284.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bruce K. Posey sold 1,330 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $145.24, for a total transaction of $193,169.20. Following the completion of the sale, the insider now owns 59,616 shares of the company’s stock, valued at approximately $8,658,627.84. The disclosure for this sale can be found here. Insiders sold a total of 29,099 shares of company stock valued at $4,060,450 in the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Qualys

Several large investors have recently modified their holdings of the business. Rise Advisors LLC bought a new position in shares of Qualys during the 1st quarter worth approximately $26,000. Global Retirement Partners LLC raised its stake in shares of Qualys by 1,666.7% during the 1st quarter. Global Retirement Partners LLC now owns 159 shares of the software maker’s stock worth $27,000 after acquiring an additional 150 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of 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 in the last quarter. Sound Income Strategies LLC raised its stake in shares of Qualys by 545.2% during the 1st quarter. Sound Income Strategies LLC now owns 200 shares of the software maker’s stock worth $33,000 after acquiring an additional 169 shares in the last quarter. Finally, DecisionPoint Financial LLC bought a new position in shares of Qualys during the 1st quarter worth approximately $34,000. 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.