Qualys (QLYS) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Qualys (NASDAQ:QLYS) from a hold rating to a buy rating in a research note released on Wednesday morning.

A number of other research firms also recently issued reports on QLYS. Stifel Nicolaus increased their price target on Qualys from $75.00 to $90.00 and gave the stock a hold rating in a research report on Friday, June 15th. Morgan Stanley upped their price objective on Qualys from $74.00 to $81.00 and gave the stock an equal weight rating in a research note on Thursday, June 14th. Needham & Company LLC upped their price objective on Qualys from $95.00 to $105.00 and gave the stock a buy rating in a research note on Thursday, June 14th. Monness Crespi & Hardt upgraded Qualys from a neutral rating to a buy rating and set a $94.00 price objective for the company in a research note on Monday, June 11th. Finally, Royal Bank of Canada upped their price objective on Qualys to $90.00 and gave the stock a positive rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Qualys has an average rating of Buy and a consensus target price of $85.07.

QLYS opened at $94.60 on Wednesday. Qualys has a 12-month low of $50.00 and a 12-month high of $98.30. The firm has a market cap of $3.72 billion, a PE ratio of 105.11 and a beta of 1.13.

Qualys (NASDAQ:QLYS) last posted its quarterly earnings results on Tuesday, July 31st. The software maker reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. Qualys had a return on equity of 12.70% and a net margin of 12.04%. The business had revenue of $68.15 million for the quarter, compared to the consensus estimate of $67.13 million. research analysts forecast that Qualys will post 0.85 earnings per share for the current fiscal year.

In related news, CFO Melissa B. Fisher sold 1,500 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $86.84, for a total transaction of $130,260.00. Following the completion of the sale, the chief financial officer now directly owns 121,330 shares in the company, valued at approximately $10,536,297.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Philippe F. Courtot sold 60,000 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $87.92, for a total value of $5,275,200.00. Following the sale, the chairman now owns 5,458,092 shares of the company’s stock, valued at $479,875,448.64. The disclosure for this sale can be found here. Insiders have sold a total of 291,316 shares of company stock valued at $25,344,094 over the last 90 days. 18.60% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its stake in Qualys by 119.9% in the second quarter. Envestnet Asset Management Inc. now owns 1,889 shares of the software maker’s stock valued at $159,000 after buying an additional 1,030 shares during the last quarter. NewSquare Capital LLC purchased a new stake in Qualys in the second quarter valued at about $217,000. Stevens Capital Management LP purchased a new stake in Qualys in the second quarter valued at about $212,000. Atria Investments LLC purchased a new stake in Qualys in the second quarter valued at about $217,000. Finally, Greenwood Capital Associates LLC purchased a new stake in Qualys in the second quarter valued at about $218,000. Institutional investors own 82.16% of the company’s stock.

About Qualys

Qualys, Inc engages in the provision of cloud security and compliance solutions. Its products enable organizations to identify security risks to information technology infrastructures; help protect information technology systems and applications from cyber attacks; and achieve compliance with internal policies and external regulations.

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