Qualys (QLYS) Rating Lowered to Neutral at J P Morgan Chase & Co

Qualys (NASDAQ:QLYS) was downgraded by stock analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report released on Tuesday, Marketbeat reports. They currently have a $65.00 price target on the software maker’s stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 11.21% from the company’s previous close.

A number of other research firms also recently commented on QLYS. Stifel Nicolaus reaffirmed a “hold” rating and issued a $60.00 target price on shares of Qualys in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Qualys from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Saturday, November 4th. Morgan Stanley downgraded shares of Qualys from an “overweight” rating to an “equal weight” rating and set a $51.00 target price for the company. in a research report on Tuesday, October 10th. Summit Redstone raised shares of Qualys from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Wednesday, November 1st. Finally, Wells Fargo & Company set a $52.00 target price on shares of Qualys and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Qualys has an average rating of “Hold” and a consensus price target of $54.00.

Qualys (NASDAQ:QLYS) traded up $0.25 during trading hours on Tuesday, reaching $58.45. 691,962 shares of the company’s stock were exchanged, compared to its average volume of 277,938. Qualys has a fifty-two week low of $30.60 and a fifty-two week high of $62.35. The company has a market cap of $2,216.42, a P/E ratio of 53.14, a PEG ratio of 5.26 and a beta of 0.87.

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

In other news, insider Sumedh S. Thakar sold 2,000 shares of the business’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $53.00, for a total transaction of $106,000.00. Following the completion of the sale, the insider now owns 124,051 shares of the company’s stock, valued at approximately $6,574,703. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sumedh S. Thakar sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.05, for a total transaction of $825,750.00. Following the sale, the insider now directly owns 211,346 shares of the company’s stock, valued at approximately $11,634,597.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 557,916 shares of company stock valued at $32,606,286. Insiders own 20.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of Qualys by 12.9% during the 2nd quarter. State Street Corp now owns 721,149 shares of the software maker’s stock valued at $29,421,000 after buying an additional 82,251 shares in the last quarter. Pier 88 Investment Partners LLC lifted its stake in shares of Qualys by 62.8% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 10,633 shares of the software maker’s stock valued at $551,000 after buying an additional 4,100 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Qualys by 2.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,264,080 shares of the software maker’s stock valued at $92,374,000 after buying an additional 57,088 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Qualys by 3.8% during the 3rd quarter. Prudential Financial Inc. now owns 52,590 shares of the software maker’s stock valued at $2,724,000 after buying an additional 1,920 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Qualys by 2.7% during the 2nd quarter. Wells Fargo & Company MN now owns 175,591 shares of the software maker’s stock valued at $7,164,000 after buying an additional 4,622 shares in the last quarter. Institutional investors own 75.37% of the company’s stock.

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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.

Analyst Recommendations for Qualys (NASDAQ:QLYS)

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