On September 27, 2023, it was reported that Wedge Capital Management L L P NC significantly increased its stake in Qualys, Inc. (NASDAQ:QLYS) during the second quarter. According to their most recent disclosure with the Securities and Exchange Commission, the institutional investor acquired an additional 21,465 shares of the software maker’s stock, resulting in a remarkable 1,058.4% lift in their overall ownership. As a result, Wedge Capital Management L L P NC now holds a total of 23,493 shares of Qualys’ stock worth approximately $3,035,000.
In addition to Wedge Capital Management’s investment activity, there have been notable developments involving insiders at Qualys. One instance involves insider Bruce K. Posey who sold 1,597 shares of the company’s stock on July 20th at an average price of $131.27 per share. The total value of this transaction amounted to $209,638.19. Following this sale, Posey’s remaining stake in Qualys is comprised of 55,958 shares valued at $7,345,606.66.
Notably enough, Posey engaged in another sale on September 20th where he disposed of 1,579 shares at an average price of $152.74 per share for a total transaction worth $241176.46.With this recent sale included,Posey retains possession of approximately 51,%798 shares valued around $7,$91,,6265,.52.
The details regarding these transactions have been officially disclosed through filings made by the company with the Securities and Exchange Commission and can be accessed through their respective hyperlinks.
These insider sales collectively sum up to a total of 34,,544 shares sold within the last quarter with a cumulative value reaching up to $4,$91,”459 dollars.It is important to note that currently insiders hold approximately ,120% of the company’s stock ownership.
The recent developments in Qualys’ ownership composition, particularly with the significant increase in stake by Wedge Capital Management L L P NC, highlight a growing interest and confidence in the company. As investors and insiders continue to buy and sell shares, it will be interesting to observe how these activities shape Qualys’ future trajectory.
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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Institutional Investors and Research Firms Show Interest in Qualys Amidst Record Performance and Growth Potential
In recent months, there has been considerable activity among major investors in Qualys, a software maker company. Aviva PLC, for instance, saw a significant increase of 39.4% in its holdings during the first quarter. The company now owns 11,824 shares valued at $1,537,000. Similarly, Geode Capital Management LLC raised its holdings by 1.9% during the fourth quarter and currently holds 838,727 shares worth $94,130,000.
Eagle Asset Management Inc., another prominent investor, increased its stake by 3.6% in the first quarter and now owns 59,276 Qualys shares worth an estimated $7,707,000. DC Investments Management LLC also entered the list of investors in the company during the first quarter with a new stake worth $287,000. Additionally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake worth $316,000 during the fourth quarter.
The majority of Qualys’ stock is currently owned by institutional investors and hedge funds – approximately 95.90%. This demonstrates not only their confidence in the company’s performance but also their belief in its growth potential.
Several research firms have provided their insights on Qualys (NASDAQ:QLYS), offering target prices and ratings for potential investors to consider. Wedbush increased its target price from $130.00 to $160.00 in August while William Blair initiated coverage with an “outperform” rating on May 30th.
Northland Securities similarly raised its price objective from $132 to $136 on August 4th. Stephens began covering Qualys and assigned it an “equal weight” rating with a target price of $145 on August 17th. Morgan Stanley stands out as more cautious about the stock’s performance and gave it an “underweight” rating along with increasing their price objective to $104 from $95.
According to data from Bloomberg, the average target price for Qualys stands at $138.41, with an average rating of “Hold” among analysts.
On Wednesday, Qualys opened trading at $151.46 with a market cap of $5.56 billion. The company has displayed a remarkable performance in recent times, with a P/E ratio of 47.78 and a beta of 0.61 – indicating its relatively lower volatility compared to the market average.
Qualys experienced significant growth during the past year, reaching its highest value yet at $157.88 and maintaining a healthy 1-year low of $101.10. The current fifty-day simple moving average stands at $146.98 while the 200-day simple moving average rests at $132.03.
In terms of financial performance, Qualys released its earnings results on August 3rd, exceeding analysts’ expectations with an earnings per share (EPS) of $0.95 against the estimated $0.65 – beating estimates by a noteworthy margin of $0.30. The company generated revenue of approximately $137 million during the quarter, surpassing the consensus estimate of $135.55 million.
Qualys boasts an impressive net margin of 22.98% and a return on equity (ROE) of 40.52%, indicating its strong profitability and efficient use of shareholder funds.
Going forward, equities research analysts project that Qualys will post an EPS forecasted to be around 3.2 for the current year.
Overall, Qualys’ performance has attracted considerable attention from large investors and research firms alike due to its impressive financial results and potential for continued growth within the software industry.