Formidable Asset Management LLC Raises Holdings in Qualys, Inc. (NASDAQ:QLYS)

Formidable Asset Management LLC increased its holdings in shares of Qualys, Inc. (NASDAQ:QLYS - Free Report) by 58.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,068 shares of the software maker's stock after acquiring an additional 2,967 shares during the quarter. Formidable Asset Management LLC's holdings in Qualys were worth $1,131,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of QLYS. SBI Securities Co. Ltd. bought a new position in Qualys in the 4th quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Qualys during the 4th quarter valued at $39,000. Quadrant Capital Group LLC boosted its holdings in shares of Qualys by 88.1% during the 4th quarter. Quadrant Capital Group LLC now owns 333 shares of the software maker's stock valued at $47,000 after acquiring an additional 156 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Qualys during the 4th quarter worth $54,000. Finally, Fifth Third Bancorp increased its holdings in Qualys by 33.9% in the 4th quarter. Fifth Third Bancorp now owns 391 shares of the software maker's stock worth $55,000 after purchasing an additional 99 shares in the last quarter. 99.31% of the stock is owned by institutional investors.

Qualys Stock Performance

QLYS traded up $3.03 during mid-day trading on Tuesday, reaching $137.54. 318,323 shares of the stock were exchanged, compared to its average volume of 382,911. The company has a 50 day moving average price of $127.69 and a two-hundred day moving average price of $136.59. The stock has a market capitalization of $5.00 billion, a PE ratio of 29.58 and a beta of 0.61. Qualys, Inc. has a 1 year low of $112.61 and a 1 year high of $170.00.

Qualys (NASDAQ:QLYS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The software maker reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.21. Qualys had a return on equity of 38.52% and a net margin of 28.59%. The business had revenue of $159.90 million for the quarter, compared to analysts' expectations of $157.05 million. During the same period in the previous year, the business posted $1.45 EPS. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts expect that Qualys, Inc. will post 3.85 EPS for the current fiscal year.

Insider Activity

In other Qualys news, insider Bruce K. Posey sold 524 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $129.38, for a total value of $67,795.12. Following the completion of the sale, the insider now owns 65,053 shares of the company's stock, valued at $8,416,557.14. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joo Mi Kim sold 1,018 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $126.75, for a total value of $129,031.50. Following the sale, the chief financial officer now directly owns 100,920 shares of the company's stock, valued at approximately $12,791,610. This trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,127 shares of company stock worth $1,904,252 over the last ninety days. Company insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

QLYS has been the topic of several research reports. Morgan Stanley reduced their price target on Qualys from $120.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen upgraded Qualys from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. JPMorgan Chase & Co. lowered their target price on shares of Qualys from $122.00 to $117.00 and set an "underweight" rating for the company in a research note on Monday, April 28th. Scotiabank set a $142.00 target price on shares of Qualys and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Finally, Canaccord Genuity Group lowered their target price on shares of Qualys from $163.00 to $158.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $137.50.

About Qualys

Qualys, Inc, together with its subsidiaries, provides cloud-based platform delivering information technology (IT), security, and compliance solutions in the United States and internationally. It offers Qualys Cloud Apps, which include Cybersecurity Asset Management and External Attack Surface Management; Vulnerability Management, Detection and Response; Web Application Scanning; Patch Management; Custom Assessment and Remediation; Multi-Vector Endpoint Detection and Response; Context Extended Detection and Response; Policy Compliance; File Integrity Monitoring; and Qualys TotalCloud, as well as Cloud Workload Protection, Cloud Detection and Response, Cloud Security Posture Management, Infrastructure as Code, and Container Security.