Qualys Inc (QLYS) Lowered to “Hold” at Zacks Investment Research

Qualys Inc (NASDAQ:QLYS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, May 9th.

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 several other research reports. Robert W. Baird reissued a “hold” rating on shares of Qualys in a research note on Wednesday, May 3rd. First Analysis cut shares of Qualys from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $42.00 to $37.00 in a research report on Thursday, February 9th. Northland Securities initiated coverage on shares of Qualys in a research report on Wednesday, January 25th. They set an “outperform” rating and a $42.00 price target on the stock. Morgan Stanley initiated coverage on shares of Qualys in a research report on Thursday, March 30th. They set an “overweight” rating and a $43.00 price target on the stock. Finally, Imperial Capital upped their price target on shares of Qualys from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Qualys presently has an average rating of “Hold” and an average target price of $39.82.

Analyst Recommendations for Qualys (NASDAQ:QLYS)

Qualys (NASDAQ:QLYS) traded up 0.71% during midday trading on Tuesday, hitting $42.40. 31,985 shares of the stock were exchanged. Qualys has a 1-year low of $27.80 and a 1-year high of $44.35. The firm has a market capitalization of $1.57 billion, a P/E ratio of 45.44 and a beta of 0.99. The firm’s 50-day moving average price is $38.66 and its 200 day moving average price is $35.62.

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In other news, insider Sumedh S. Thakar sold 4,119 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $40.87, for a total transaction of $168,343.53. Following the sale, the insider now owns 140,950 shares in the company, valued at approximately $5,760,626.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Philippe F. Courtot sold 40,000 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $36.44, for a total transaction of $1,457,600.00. Following the sale, the chairman now owns 5,386,234 shares in the company, valued at approximately $196,274,366.96. The disclosure for this sale can be found here. Insiders sold a total of 918,504 shares of company stock worth $32,959,047 in the last 90 days. 30.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in shares of Qualys during the first quarter valued at about $4,472,000. Ranger Investment Management L.P. boosted its position in Qualys by 11.3% in the first quarter. Ranger Investment Management L.P. now owns 744,530 shares of the software maker’s stock valued at $28,218,000 after buying an additional 75,800 shares during the last quarter. Credit Suisse AG boosted its position in Qualys by 10.9% in the first quarter. Credit Suisse AG now owns 306,010 shares of the software maker’s stock valued at $11,597,000 after buying an additional 30,176 shares during the last quarter. AQR Capital Management LLC boosted its position in Qualys by 52.4% in the first quarter. AQR Capital Management LLC now owns 29,675 shares of the software maker’s stock valued at $1,125,000 after buying an additional 10,204 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new position in Qualys during the first quarter valued at $993,000. 74.32% 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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