Qualys (NASDAQ:QLYS) Price Target Cut to $120.00 by Analysts at Truist Financial

Qualys (NASDAQ:QLYS - Get Free Report) had its price objective lowered by equities researchers at Truist Financial from $130.00 to $120.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "hold" rating on the software maker's stock. Truist Financial's target price indicates a potential downside of 1.23% from the company's previous close.

A number of other equities analysts have also recently issued reports on QLYS. Needham & Company LLC restated a "hold" rating on shares of Qualys in a report on Wednesday, August 7th. UBS Group reduced their target price on Qualys from $170.00 to $140.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Northland Securities restated a "market perform" rating and set a $140.00 target price (down previously from $150.00) on shares of Qualys in a report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on Qualys in a report on Wednesday, October 16th. They set a "hold" rating and a $135.00 target price on the stock. Finally, DA Davidson upgraded Qualys from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $144.23.

Qualys Trading Down 1.6 %

Qualys stock traded down $1.95 during mid-day trading on Wednesday, hitting $121.50. The stock had a trading volume of 282,581 shares, compared to its average volume of 425,712. The stock has a 50-day simple moving average of $124.57 and a two-hundred day simple moving average of $139.16. The stock has a market capitalization of $4.49 billion, a PE ratio of 28.13 and a beta of 0.46. Qualys has a 12 month low of $119.32 and a 12 month high of $206.35.

Qualys (NASDAQ:QLYS - Get Free Report) last posted 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. The business had revenue of $148.70 million for the quarter, compared to analysts' expectations of $148.80 million. Qualys had a return on equity of 44.80% and a net margin of 29.36%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. Sell-side analysts expect that Qualys will post 3.94 earnings per share for the current fiscal year.

Insider Activity at Qualys

In related news, CFO Joo Mi Kim sold 616 shares of Qualys stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $133.93, for a total value of $82,500.88. Following the sale, the chief financial officer now owns 87,077 shares of the company's stock, valued at approximately $11,662,222.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Bruce K. Posey sold 1,339 shares of Qualys stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $123.56, for a total transaction of $165,446.84. Following the completion of the transaction, the insider now directly owns 55,279 shares in the company, valued at approximately $6,830,273.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joo Mi Kim sold 616 shares of Qualys stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $133.93, for a total value 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 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 valued at $1,442,641. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC boosted 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 during the period. DecisionPoint Financial LLC bought a new position in shares of Qualys during the 1st quarter worth approximately $34,000. First Horizon Advisors Inc. boosted its stake in Qualys by 294.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 225 shares of the software maker's stock valued at $32,000 after purchasing an additional 168 shares during the period. UMB Bank n.a. boosted its stake 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. Finally, Quarry LP bought a new stake in Qualys in the 2nd quarter valued at $40,000. 99.31% of the stock is currently owned by institutional investors.

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.