Needham & Company LLC reissued their buy rating on shares of Qualys (NASDAQ:QLYS) in a report issued on Tuesday, March 6th, Marketbeat.com reports. The firm currently has a $85.00 price target on the software maker’s stock, up from their prior price target of $80.00.
Several other equities analysts also recently issued reports on QLYS. JPMorgan Chase & Co. downgraded shares of Qualys from an overweight rating to a neutral rating and set a $65.00 price objective on the stock. in a report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Qualys from a buy rating to a hold rating in a research note on Thursday, January 4th. BidaskClub downgraded shares of Qualys from a strong-buy rating to a buy rating in a research note on Thursday, January 25th. Morgan Stanley set a $65.00 price target on shares of Qualys and gave the company a hold rating in a research report on Tuesday, February 13th. Finally, Wells Fargo & Co set a $62.00 price objective on shares of Qualys and gave the company a hold rating in a report on Tuesday, February 13th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $68.92.
Shares of Qualys (NASDAQ QLYS) traded up $0.75 during mid-day trading on Tuesday, reaching $77.05. 66,009 shares of the company’s stock were exchanged, compared to its average volume of 277,749. The company has a market cap of $2,978.25, a P/E ratio of 74.80, a P/E/G ratio of 5.27 and a beta of 0.81. Qualys has a twelve month low of $34.67 and a twelve month high of $79.40.
Qualys declared that its board has initiated a share buyback plan on Monday, February 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In other news, Director Kristi Marie Rogers sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $71.87, for a total transaction of $718,700.00. Following the completion of the sale, the director now owns 21,155 shares of the company’s stock, valued at $1,520,409.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sumedh S. Thakar sold 2,000 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $78.44, for a total value of $156,880.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,801 shares of company stock worth $3,863,839. 20.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. bought a new stake in Qualys in the third quarter valued at $101,000. Advisory Services Network LLC bought a new stake in shares of Qualys during the fourth quarter valued at about $118,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Qualys by 125.4% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,516 shares of the software maker’s stock valued at $150,000 after purchasing an additional 1,400 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Qualys during the fourth quarter valued at about $154,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Qualys by 17.4% during the second quarter. Ameritas Investment Partners Inc. now owns 2,757 shares of the software maker’s stock valued at $112,000 after purchasing an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 79.50% of the company’s stock.
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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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