J P Morgan Chase & Co Downgrades Qualys (QLYS) to Neutral

Qualys (NASDAQ:QLYS) was downgraded by J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday.

Several other research firms have also recently issued reports on QLYS. Zacks Investment Research upgraded shares of Qualys from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Saturday, November 4th. Stifel Nicolaus restated a “hold” rating and set a $60.00 target price on shares of Qualys in a research note on Friday, November 3rd. Wells Fargo & Company set a $52.00 target price on shares of Qualys and gave the company a “hold” rating in a research note on Wednesday, November 1st. Morgan Stanley cut shares of Qualys from an “overweight” rating to an “equal weight” rating and set a $51.00 price objective on the stock. in a research note on Tuesday, October 10th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $61.00 price objective on shares of Qualys in a research note on Wednesday, November 1st. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.36.

Qualys (NASDAQ QLYS) opened at $59.00 on Tuesday. The stock has a market cap of $2,216.40, a PE ratio of 53.14, a price-to-earnings-growth ratio of 5.26 and a beta of 0.87. Qualys has a one year low of $30.60 and a one year high of $62.35.

Qualys (NASDAQ:QLYS) last posted its earnings results on Tuesday, October 31st. The software maker reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.10. The business had revenue of $59.49 million for the quarter, compared to analysts’ expectations of $58.59 million. Qualys had a net margin of 19.76% and a return on equity of 14.81%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. equities analysts forecast that Qualys will post 0.65 earnings per share for the current year.

In other Qualys news, CEO Philippe F. Courtot sold 20,000 shares of the firm’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 in the company, valued at approximately $342,435,329.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Amer Deeba sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $58.40, for a total transaction of $116,800.00. Following the sale, the vice president now owns 66,644 shares in the company, valued at approximately $3,892,009.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 555,916 shares of company stock worth $32,488,606. 20.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QLYS. ETF Managers Group LLC bought a new stake in Qualys during the 2nd quarter worth approximately $41,523,000. Neuberger Berman Group LLC raised its stake in Qualys by 23.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,802,385 shares of the software maker’s stock worth $145,164,000 after acquiring an additional 538,305 shares during the period. BlackRock Inc. grew its holdings in Qualys by 7.3% during the 2nd quarter. BlackRock Inc. now owns 3,610,674 shares of the software maker’s stock valued at $147,317,000 after buying an additional 245,550 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Qualys by 11.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,023,000 shares of the software maker’s stock valued at $41,738,000 after buying an additional 105,100 shares in the last quarter. Finally, State Street Corp grew its holdings in 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. Institutional investors own 75.37% of the company’s stock.

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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.

Analyst Recommendations for Qualys (NASDAQ:QLYS)

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