KBC Group NV has reduced its holdings in Qualys, Inc. (NASDAQ: QLYS) by a substantial 44.3% during the second quarter of 2023. According to a report from HoldingsChannel.com, KBC Group now owns 958 shares of the cybersecurity software company after selling 763 shares in the period. The value of KBC’s remaining stake is approximately $137,000, as detailed in its recent filing with the Securities and Exchange Commission (SEC).
This divestment comes as other institutional investors also reassess their positions in Qualys. Notably, Boston Trust Walden Corp increased its stake by 8.4%, acquiring an additional 88,051 shares during the same quarter. Boston Trust now holds a total of 1,137,864 shares valued at around $162.6 million.
AQR Capital Management LLC made a more aggressive move, boosting its position by 96.8% in the first quarter, resulting in ownership of 688,776 shares worth $85.4 million. Similarly, UBS Asset Management increased its holdings by 92.2%, owning 643,238 shares valued at $81 million. Penserra Capital Management also expanded its stake by 9.3% in the second quarter, now holding 545,380 shares worth $77.9 million. Collectively, hedge funds and institutional investors own approximately 99.31% of Qualys.
The stock performance of Qualys remains robust, with its shares opening at $137.90 recently. The company has a market capitalization of $4.94 billion, alongside a price-to-earnings ratio of 27.52 and a beta of 0.58. Over the past year, Qualys has experienced fluctuations, with a fifty-two week low of $112.61 and a high of $159.73.
Analysts have varied opinions on Qualys. In a recent note, Berenberg Bank initiated coverage with a “hold” rating and set a price target of $165.00. Meanwhile, JPMorgan Chase & Co. revised its target price from $115.00 to $117.00, maintaining an “underweight” rating. Wall Street Zen upgraded its rating from “hold” to “buy” on November 8, 2023. Overall, analysts have given Qualys an average rating of “hold” with a target price of $142.14.
In insider trading news, CEO Sumedh S. Thakar sold 2,200 shares on November 12, 2023, at an average price of $155.04, totaling $341,088. Following this transaction, Thakar retains 256,800 shares valued at approximately $39.8 million. Additionally, insider Bruce K. Posey sold 540 shares on October 20, 2023, for about $68,644.80.
Insider trading activity has seen 24,999 shares sold in the last three months, valued at $3.32 million. Currently, company insiders own 0.88% of the stock.
Qualys, Inc. provides a cloud-based platform that delivers IT, security, and compliance solutions globally. Its offerings include various applications for cybersecurity, vulnerability management, and compliance monitoring.
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