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Bruce K. Posey, the Chief Legal Officer at Qualys, Inc. (NASDAQ:QLYS), recently sold shares of the company’s stock, according to a filing with the Securities and Exchange Commission. On March 20, Posey sold a total of 524 shares of Qualys common stock. The sale, executed under a pre-established Rule 10b5-1 trading plan, involved shares sold at prices ranging from $128.73 to $130.46 per share, generating proceeds of approximately $67,794. The cybersecurity firm, currently valued at $4.7 billion, maintains impressive gross profit margins of 81.7% and boasts a "GREAT" financial health rating according to InvestingPro analysis.
Following the transaction, Posey retains ownership of 65,053 shares of Qualys. The filing also clarified a previous reporting error regarding the number of shares beneficially owned by Posey, which has now been corrected. Analysts maintain a positive outlook on the stock, with 10 analysts recently revising their earnings estimates upward for the upcoming period. The company’s strong balance sheet shows more cash than debt, positioning it well for future growth.
In other recent news, Qualys has been the focus of several notable developments. Canaccord Genuity maintained a Buy rating on Qualys while adjusting the stock’s price target from $170 to $163, reflecting the firm’s outlook on the company’s financial strategies aimed at growth. They noted that Qualys is currently experiencing a growth trough but anticipates improvement in billings by fiscal year 2025. DA Davidson reiterated a Neutral rating with a price target of $130, highlighting the potential of Qualys’ new Enterprise TruRisk Management (ETM) platform to create cross-sell and upsell opportunities. The ETM platform is expected to significantly impact growth by fiscal year 2026. Canaccord Genuity also pointed out that despite a disappointing EPS forecast, the investments made could be beneficial in the long term. They emphasized the importance of strategic initiatives and market opportunities for future performance. Both firms’ analyses reflect confidence in Qualys’ strategic direction and potential market gains.
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