Qualys, Inc. (NASDAQ:QLYS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage presently has a $64.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.60% from the stock’s previous close.

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. “

QLYS has been the topic of a number of other research reports. Morgan Stanley downgraded shares of Qualys from an “overweight” rating to an “equal weight” rating and set a $51.00 price target on the stock. in a research note on Tuesday, October 10th. BidaskClub downgraded shares of Qualys from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Needham & Company LLC initiated coverage on shares of Qualys in a research note on Monday, October 23rd. They set a “buy” rating and a $65.00 price target on the stock. Northland Securities set a $48.00 price target on shares of Qualys and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Imperial Capital reissued an “outperform” rating and set a $50.00 price objective (up from $46.00) on shares of Qualys in a report on Wednesday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $54.36.

Shares of Qualys (NASDAQ QLYS) opened at $57.35 on Friday. Qualys has a 52 week low of $30.60 and a 52 week high of $57.75. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 52.04, a price-to-earnings-growth ratio of 6.07 and a beta of 0.84.

Qualys (NASDAQ:QLYS) last posted its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.10. Qualys had a net margin of 19.76% and a return on equity of 14.81%. The firm had revenue of $59.49 million for the quarter, compared to the consensus estimate of $58.59 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. equities research analysts expect that Qualys will post 0.56 earnings per share for the current fiscal year.

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In related news, Director Todd P. Headley sold 4,714 shares of Qualys stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $45.25, for a total value of $213,308.50. Following the completion of the transaction, the director now directly owns 14,410 shares of the company’s stock, valued at $652,052.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Philippe F. Courtot sold 20,000 shares of Qualys stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $56.01, for a total value of $1,120,200.00. Following the completion of the transaction, the chairman now directly owns 5,544,435 shares of the company’s stock, valued at $310,543,804.35. The disclosure for this sale can be found here. Insiders sold 96,214 shares of company stock valued at $4,973,589 over the last ninety days. 30.20% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Qualys in the second quarter valued at about $103,000. Ameritas Investment Partners Inc. raised its holdings in shares of Qualys by 17.4% in the second quarter. Ameritas Investment Partners Inc. now owns 2,757 shares of the software maker’s stock valued at $112,000 after buying an additional 408 shares during the last quarter. Thompson Davis & CO. Inc. increased its position in Qualys by 1,100.0% in 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. Pinebridge Investments L.P. increased its position in Qualys by 2.9% in the second quarter. Pinebridge Investments L.P. now owns 3,952 shares of the software maker’s stock worth $161,000 after purchasing an additional 110 shares during the period. Finally, US Bancorp DE increased its position in Qualys by 18.6% in the second quarter. US Bancorp DE now owns 4,440 shares of the software maker’s stock worth $181,000 after purchasing an additional 697 shares during the period. 73.47% of the stock is owned by institutional investors and hedge funds.

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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