Qualys (QLYS) to Buyback $100.00 million in Outstanding Shares

Qualys (NASDAQ:QLYS) announced that its board has authorized a share repurchase plan, which permits the company to buyback $100.00 million in shares on Monday, February 12th, EventVestor reports. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

A number of research firms have weighed in on QLYS. Needham & Company LLC raised their price objective on shares of Qualys from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday. BidaskClub upgraded shares of Qualys from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Wells Fargo & Co set a $62.00 price target on shares of Qualys and gave the stock a “hold” rating in a research note on Tuesday. Summit Redstone upgraded shares of Qualys from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $67.00 price target on shares of Qualys in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $63.67.

Shares of Qualys (NASDAQ:QLYS) traded up $0.65 during midday trading on Thursday, reaching $67.95. 504,900 shares of the company traded hands, compared to its average volume of 238,776. The company has a market capitalization of $2,580.00, a price-to-earnings ratio of 65.97, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. Qualys has a 12 month low of $33.75 and a 12 month high of $69.90.

Qualys (NASDAQ:QLYS) last announced its earnings results on Monday, February 12th. The software maker reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $62.90 million during the quarter, compared to analyst estimates of $61.96 million. Qualys had a net margin of 17.52% and a return on equity of 16.69%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 earnings per share. analysts forecast that Qualys will post 0.73 EPS for the current fiscal year.

In related news, Chairman Philippe F. Courtot sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $58.52, for a total transaction of $2,340,800.00. Following the completion of the sale, the chairman now directly owns 5,564,435 shares in the company, valued at $325,630,736.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Philippe F. Courtot sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $61.54, for a total transaction of $1,230,800.00. Following the sale, the chief executive officer now owns 5,564,435 shares of the company’s stock, valued at $342,435,329.90. The disclosure for this sale can be found here. Insiders have sold 251,280 shares of company stock valued at $15,095,176 over the last 90 days. 20.90% of the stock is currently owned by company insiders.

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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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