Qualys, Inc. $QLYS Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its stake in Qualys, Inc. (NASDAQ:QLYS) by 52.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,700 shares of the software maker’s stock after selling 54,100 shares during the quarter. Cullinan Associates Inc.’s holdings in Qualys were worth $9,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. raised its position in shares of Qualys by 28.8% during the 1st quarter. Sei Investments Co. now owns 47,295 shares of the software maker’s stock valued at $4,155,000 after buying an additional 10,569 shares during the period. Quantinno Capital Management LP lifted its holdings in Qualys by 306.4% in the first quarter. Quantinno Capital Management LP now owns 36,253 shares of the software maker’s stock valued at $3,185,000 after acquiring an additional 27,333 shares during the last quarter. Handelsbanken Fonder AB grew its position in Qualys by 63.5% in the second quarter. Handelsbanken Fonder AB now owns 17,251 shares of the software maker’s stock worth $2,372,000 after acquiring an additional 6,700 shares during the period. Park State Asset Management purchased a new position in Qualys in the second quarter worth approximately $5,942,000. Finally, Chase Investment Counsel Corp purchased a new position in Qualys in the second quarter worth approximately $2,749,000. 99.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on QLYS. Jefferies Financial Group raised their target price on Qualys from $150.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Truist Financial increased their price target on Qualys from $160.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Robert W. Baird set a $160.00 price objective on Qualys in a research report on Wednesday, August 5th. Scotiabank raised their price objective on Qualys from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, DA Davidson upped their target price on shares of Qualys from $135.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $185.87.

Qualys Stock Performance

Qualys stock opened at $190.41 on Friday. Qualys, Inc. has a fifty-two week low of $74.51 and a fifty-two week high of $235.54. The firm has a 50 day moving average price of $190.76 and a 200 day moving average price of $136.71. The company has a market capitalization of $6.59 billion, a PE ratio of 32.94 and a beta of 0.54.

Insiders Place Their Bets

In other news, CFO Joo Mi Kim sold 2,659 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $209.66, for a total transaction of $557,485.94. Following the completion of the transaction, the chief financial officer directly owned 68,208 shares in the company, valued at $14,300,489.28. This trade represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce K. Posey sold 881 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $189.52, for a total value of $166,967.12. Following the transaction, the insider owned 57,807 shares of the company’s stock, valued at $10,955,582.64. This trade represents a 1.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,672 shares of company stock worth $2,192,747 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Qualys Company Profile

Qualys, Inc is a cloud-based cybersecurity company that helps organizations identify, assess and manage security risks across information technology environments. Its platform is designed to provide visibility into assets, vulnerabilities, configurations and compliance requirements across on-premises infrastructure, endpoints, networks, applications and cloud environments.

The company’s offerings include vulnerability management, detection and response, policy compliance, asset inventory, web application security, endpoint security and cloud security capabilities.