Qualys (NASDAQ:QLYS) has been assigned a $62.00 target price by Wells Fargo & Co in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the software maker’s stock. Wells Fargo & Co’s price target points to a potential downside of 8.76% from the company’s current price.
A number of other research analysts also recently issued reports on QLYS. Northland Securities set a $48.00 price target on shares of Qualys and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Needham & Company LLC initiated coverage on shares of Qualys in a research report on Monday, October 23rd. They issued a “buy” rating and a $65.00 price objective on the stock. KeyCorp reiterated a “hold” rating on shares of Qualys in a research report on Friday, October 27th. Robert W. Baird reiterated a “hold” rating and issued a $61.00 price objective on shares of Qualys in a research report on Wednesday, November 1st. Finally, Summit Redstone upgraded shares of Qualys from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Wednesday, November 1st. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Qualys presently has an average rating of “Hold” and a consensus target price of $63.67.
Qualys (QLYS) traded up $0.65 during trading on Tuesday, hitting $67.95. 504,900 shares of the stock were exchanged, compared to its average volume of 248,352. Qualys has a one year low of $33.75 and a one year high of $72.10. The company has a market cap of $2,580.00, a P/E ratio of 65.97, a P/E/G ratio of 5.40 and a beta of 1.01.
Qualys announced that its board has approved a share repurchase program on Monday, February 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
In other Qualys news, insider Sumedh S. Thakar sold 9,801 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $58.70, for a total transaction of $575,318.70. Following the sale, the insider now directly owns 192,280 shares in the company, valued at approximately $11,286,836. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sumedh S. Thakar sold 2,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $58.84, for a total transaction of $117,680.00. Following the sale, the insider now owns 186,436 shares in the company, valued at $10,969,894.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,280 shares of company stock worth $15,095,176 over the last 90 days. 20.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in QLYS. Alliancebernstein L.P. raised its position in shares of Qualys by 24.8% during the 2nd quarter. Alliancebernstein L.P. now owns 50,768 shares of the software maker’s stock worth $2,071,000 after buying an additional 10,083 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Qualys by 19.1% during the 2nd quarter. New York State Common Retirement Fund now owns 33,600 shares of the software maker’s stock worth $1,371,000 after buying an additional 5,399 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Qualys by 1,661.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,402 shares of the software maker’s stock worth $506,000 after buying an additional 11,698 shares in the last quarter. Northern Trust Corp raised its position in shares of Qualys by 7.8% during the 2nd quarter. Northern Trust Corp now owns 466,544 shares of the software maker’s stock worth $19,034,000 after buying an additional 33,875 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Qualys by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,589,636 shares of the software maker’s stock worth $64,857,000 after buying an additional 45,421 shares in the last quarter. Institutional investors own 75.21% of the company’s stock.
Qualys Company Profile
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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