Harel Insurance Investments & Financial Services Ltd. recently acquired a new stake in Qualys, Inc. during the second quarter of this year, according to the company’s latest Form 13F filing with the SEC. The firm purchased 6,563 shares of Qualys’ stock, which is valued at around $844,000.
This move by Harel Insurance Investments & Financial Services Ltd. indicates confidence in Qualys and its potential for growth in the software market. As a major player in the industry, Qualys specializes in providing cloud-based security and compliance solutions to businesses worldwide.
In other news related to Qualys, CEO Sumedh S. Thakar sold 5,005 shares of the company’s stock on Friday, July 14th. The shares were offloaded at an average price of $129.90 per share, bringing the total value of the transaction to $650,149.50.
Following this sale, Thakar now owns 163,140 shares in Qualys directly, amounting to an approximate value of $21,191,886. This transaction was disclosed through a filing with the SEC and can be accessed on their official website.
Moreover, another transaction involving CEO Sumedh S. Thakar took place on Thursday, July 27th when he sold 700 shares of Qualys’ stock at an average price of $140.32 per share. The total value of this particular sale was $98,224.
Overall, corporate insiders have been actively selling off their holdings in recent months as well. In the last three months alone, insiders have divested themselves of a total of 34,544 shares worth approximately $4,918,459. It’s worth noting that corporate insiders currently own around 1.20% of Qualys’ outstanding shares.
These insider sales should not necessarily be seen as a cause for concern but rather as part of normal market activity. Executives often sell shares to diversify their portfolios or to fund personal needs, and such transactions do not necessarily reflect negatively on the company’s future prospects.
It is essential for investors to conduct thorough due diligence and analyze various factors before making investment decisions. Examining a company’s financials, growth potential, and market trends can provide valuable insights into its long-term viability.
Overall, the recent stake acquisition by Harel Insurance Investments & Financial Services Ltd. demonstrates confidence in Qualys’ future growth prospects. As the company continues to provide innovative security solutions in the ever-evolving technology landscape, investors may find it worthwhile to monitor Qualys as a potential investment opportunity.
Please note that this article is based on information available as of September 24, 2023, and investors should seek current updates before making any investment decisions.
Updated on: 05/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Ownership and Investments in Cybersecurity Company Qualys Show Promising Growth
Qualys, Inc., a software maker specializing in cybersecurity solutions, has seen some notable changes in its ownership and investments over the past few quarters. In particular, several institutional investors and hedge funds have modified their holdings of the company.
One such investor is BlackRock Inc., which increased its position in Qualys by 1.4% during the first quarter of this year. BlackRock now owns 4,045,674 shares of the software maker’s stock, valued at $576,145,000, after acquiring an additional 56,825 shares in the last quarter. Similarly, Vanguard Group Inc. raised its holdings in Qualys by 0.6% during the third quarter and now owns 3,450,602 shares valued at $480,980,000.
State Street Corp also lifted its stake in Qualys by 2.0% during the first quarter to own 1,218,298 shares valued at $158,386,000 after acquiring an additional 24,307 shares. Congress Asset Management Co. MA boosted its holdings by 3.7% during the same period and now owns 1,087,407 shares worth $141,385,000. Finally Geode Capital Management LLC increased its position by 4.6% to own a total of 877545 shares worth $114398000.
These institutional investors collectively own about 95.90% of the stock currently available for Qualys (NASDAQ:QLYS), indicating significant confidence in the company’s future prospects.
Various brokerages have also weighed in on Qualys’ performance and outlook. StockNews.com initiated coverage on Qualys with a “buy” rating for the company on August 17th while Stephens assigned an “equal weight” rating and set a price target of $145 on August 17th as well.
William Blair also initiated coverage for Qualys on May 30th with an “outperform” rating. Northland Securities raised their target price on shares of Qualys from $132 to $136 on August 4th while Canaccord Genuity Group gave the stock a “buy” rating and boosted the target price from $150 to $175 on August 24th.
Despite these positive opinions, there are some dissenting views as well. Four research analysts have rated the stock as a sell while seven have assigned a hold rating and five have assigned a buy rating. Bloomberg.com reports that Qualys has a consensus rating of “Hold” with an average target price of $138.41.
As of September 24, 2023, shares of QLYS stock opened at $153.12. The company currently has a market capitalization of $5.62 billion, a P/E ratio of 48.30, and a beta coefficient of 0.61. Over the past year, the stock has traded between $101.10 and$157.88.
In terms of financial performance, Qualys last reported its earnings results on August 3rd, exceeding analysts’ expectations with an EPS of $0.95 for the quarter (compared to an estimated EPS of $0.65). The company also delivered revenue of $137.21 million in that quarter, surpassing analysts’ estimates of $135.55 million.
With these impressive financials and positive reviews from various institutions and brokerages, it is expected that Qualys will continue to perform strongly in the cybersecurity market segment throughout this fiscal year.