KBC Group NV has reduced its holdings in Qualys, Inc. (NASDAQ: QLYS) by 44.3% during the second quarter of 2023, according to a report from HoldingsChannel.com. The investment firm now holds 958 shares of the cybersecurity software company after divesting 763 shares during this period. As of the latest filing with the Securities and Exchange Commission (SEC), KBC Group’s stake in Qualys is valued at approximately $137,000.
Several other institutional investors have also adjusted their positions in Qualys. Notably, Boston Trust Walden Corp increased its ownership by 8.4%, now holding 1,137,864 shares valued at $162,567,000 following the acquisition of an additional 88,051 shares. AQR Capital Management LLC made a substantial move by boosting its position by 96.8% in the first quarter, resulting in ownership of 688,776 shares worth $85,394,000 after purchasing 338,702 shares.
UBS Asset Management’s distinct business unit also raised its holdings in Qualys by 92.2%, amassing 643,238 shares valued at $81,003,000 after acquiring 308,635 shares in the last quarter. Furthermore, Penserra Capital Management LLC increased its stake by 9.3%, owning 545,380 shares worth $77,918,000 after an additional purchase of 46,296 shares. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. also increased its position by 6.2% in the first quarter, now holding 449,650 shares valued at $56,628,000.
Hedge funds and institutional investors collectively own an impressive 99.31% of Qualys’ stock.
Stock Performance and Analyst Ratings
As of the latest trading session, Qualys shares opened at $137.90. The company’s stock has a fifty-day moving average of $133.55 and a two-hundred-day moving average of $135.64. Qualys currently holds a market capitalization of $4.94 billion, with a price-to-earnings ratio of 27.52 and a beta of 0.58. Over the past year, the stock has reached a low of $112.61 and a high of $159.73.
Research analysts have recently provided insights into the stock. Berenberg Bank initiated coverage, assigning a “hold” rating with a target price of $165.00. In a separate note, JPMorgan Chase & Co. adjusted its target price for Qualys from $115.00 to $117.00, maintaining an “underweight” rating. Wall Street Zen upgraded Qualys from a “hold” to a “buy” rating, while Robert W. Baird set a target price of $150.00. Weiss Ratings reiterated a “hold (c)” rating, reflecting a mixed sentiment among analysts. Overall, the stock has an average rating of “Hold” and an average target price of $142.14 according to MarketBeat data.
Insider Transactions
In related news, CEO Sumedh S. Thakar recently sold 2,200 shares of Qualys stock in a transaction that took place on November 12, 2023. The shares were sold at an average price of $155.04, resulting in a total transaction value of $341,088.00. Following this sale, Thakar’s remaining shares in the company total 256,800, valued at approximately $39,814,272. This transaction reflects a 0.85% decrease in his position.
Additionally, insider Bruce K. Posey sold 540 shares on October 20, 2023, at an average price of $127.12, amounting to $68,644.80. After this transaction, Posey directly owns 56,775 shares valued at $7,217,238, marking a 0.94% decrease in his holdings. Over the past three months, insiders have sold a total of 24,999 shares valued at $3,319,509, with insiders holding 0.88% of the company’s stock.
Qualys, Inc. operates as a provider of cloud-based platforms that deliver information technology, security, and compliance solutions both in the United States and internationally. Its offerings include a range of services such as Cybersecurity Asset Management, Vulnerability Management, and Cloud Workload Protection, among others.
For further updates on Qualys, including the latest holdings by hedge funds, visit HoldingsChannel.com for more detailed reports on 13F filings and insider transactions related to Qualys, Inc. (NASDAQ: QLYS).
