Qualys (NASDAQ:QLYS) PT Lowered to $123.00 at Morgan Stanley

Qualys (NASDAQ:QLYS) had its price target dropped by research analysts at Morgan Stanley from $136.00 to $123.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the software maker’s stock. Morgan Stanley’s price target would suggest a potential upside of 2.57% from the stock’s current price.

A number of other brokerages have also commented on QLYS. Westpark Capital reiterated a “hold” rating on shares of Qualys in a research note on Monday, August 5th. Piper Sandler lowered their target price on Qualys from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada reduced their price target on Qualys from $180.00 to $150.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Qualys in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Qualys from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Qualys currently has a consensus rating of “Hold” and an average target price of $144.23.

Qualys Trading Down 1.3 %

Shares of NASDAQ QLYS opened at $119.92 on Wednesday. The company has a market capitalization of $4.41 billion, a P/E ratio of 26.41 and a beta of 0.46. Qualys has a 12 month low of $119.32 and a 12 month high of $206.35. The stock has a 50 day moving average of $124.44 and a 200-day moving average of $138.90.

Qualys (NASDAQ:QLYS) last announced its quarterly earnings results on Tuesday, August 6th. The software maker reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.20. Qualys had a return on equity of 44.80% and a net margin of 29.36%. The business had revenue of $148.70 million during the quarter, compared to the consensus estimate of $148.80 million. During the same quarter last year, the firm posted $0.95 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts predict that Qualys will post 3.94 EPS for the current fiscal year.

Insider Activity

In related news, CFO Joo Mi Kim sold 616 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $133.93, for a total transaction of $82,500.88. Following the completion of the sale, the chief financial officer now directly owns 87,077 shares in the company, valued at $11,662,222.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Qualys news, 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 sale, the insider now owns 55,618 shares in the company, valued at $6,885,508.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Joo Mi Kim sold 616 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $133.93, for a total transaction of $82,500.88. Following the transaction, the chief financial officer now owns 87,077 shares of the company’s stock, valued at $11,662,222.61. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,535 shares of company stock worth $1,442,641. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Qualys

Hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC boosted its stake in shares of Qualys by 545.2% during the first quarter. Sound Income Strategies LLC now owns 200 shares of the software maker’s stock valued at $33,000 after purchasing an additional 169 shares in the last quarter. DecisionPoint Financial LLC bought a new position in Qualys in the 1st quarter valued at approximately $34,000. First Horizon Advisors Inc. boosted 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 buying an additional 168 shares during the period. UMB Bank n.a. grew its holdings in Qualys by 149.0% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the software maker’s stock worth $34,000 after acquiring an additional 143 shares during the last quarter. Finally, Quarry LP acquired a new position in Qualys in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 99.31% of the company’s stock.

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.