Zacks Investment Research Downgrades Qualys (NASDAQ:QLYS) to Hold

Zacks Investment Research lowered shares of Qualys (NASDAQ:QLYS) from a buy rating to a hold rating in a research report released on Thursday, January 4th.

According to Zacks, “Qualys, Inc. is a provider of cloud security and compliance solutions that enable organizations to identify security risks to their information technology infrastructures help protect their IT systems and applications from cyber-attacks. The Company’s solutions are provided through its QualysGuard Cloud Platform. It offers products for vulnerability management, policy compliance, web application scanning, malware detection, and associated security products. Qualys, Inc. is headquartered in Redwood City, California. “

Several other brokerages have also issued reports on QLYS. JPMorgan Chase & Co. lowered Qualys from an overweight rating to a neutral rating and set a $65.00 price target on the stock. in a research note on Tuesday, December 12th. Stifel Nicolaus reiterated a hold rating and issued a $60.00 price objective on shares of Qualys in a research note on Friday, November 3rd. Morgan Stanley lowered Qualys from an overweight rating to an equal weight rating and set a $51.00 price objective on the stock. in a research note on Tuesday, October 10th. Summit Redstone raised Qualys from a hold rating to a buy rating and set a $65.00 target price on the stock in a report on Wednesday, November 1st. Finally, Wells Fargo & Co set a $52.00 price objective on Qualys and gave the stock a hold rating in a report on Wednesday, November 1st. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $54.85.

Shares of Qualys (NASDAQ:QLYS) opened at $62.80 on Thursday. Qualys has a 12-month low of $32.40 and a 12-month high of $65.25. The firm has a market capitalization of $2,415.47, a PE ratio of 57.91, a price-to-earnings-growth ratio of 5.11 and a beta of 0.88.

Qualys (NASDAQ:QLYS) last posted its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.10. Qualys had a return on equity of 14.81% and a net margin of 19.76%. The business had revenue of $59.49 million during the quarter, compared to analysts’ expectations of $58.59 million. During the same quarter in the previous year, the firm earned $0.22 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. equities research analysts predict that Qualys will post 0.65 earnings per share for the current fiscal year.

In related news, Chairman Philippe F. Courtot sold 40,000 shares of Qualys stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $57.34, for a total value of $2,293,600.00. Following the transaction, the chairman now directly owns 5,564,435 shares of the company’s stock, valued at $319,064,702.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Philippe F. Courtot sold 20,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $56.01, for a total transaction of $1,120,200.00. Following the sale, the chairman now directly owns 5,544,435 shares in the company, valued at approximately $310,543,804.35. The disclosure for this sale can be found here. Insiders sold a total of 530,916 shares of company stock valued at $31,156,496 over the last quarter. 20.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. bought a new stake in shares of Qualys during the third quarter worth $101,000. SG Americas Securities LLC acquired a new position in shares of Qualys during the second quarter worth $103,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Qualys by 17.4% during the second quarter. Ameritas Investment Partners Inc. now owns 2,757 shares of the software maker’s stock worth $112,000 after purchasing an additional 408 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Qualys during the fourth quarter worth $154,000. Finally, Thompson Davis & CO. Inc. lifted its holdings in shares of Qualys by 1,100.0% during the third quarter. Thompson Davis & CO. Inc. now owns 3,000 shares of the software maker’s stock worth $155,000 after purchasing an additional 2,750 shares during the period. 75.49% of the stock is currently owned by hedge funds and other institutional investors.

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About Qualys

Qualys, Inc is a provider of cloud-based security and compliance solutions. The Company’s solutions enable organizations to identify security risks to their information technology (IT) infrastructures, help protect their IT systems and applications from cyber-attacks. Its suite of security and compliance solutions delivered on its Qualys Cloud Platform enables its customers to identify their IT assets, collect and analyze IT security data, discover and prioritize vulnerabilities, recommend remediation actions and verify the implementation of such actions.

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