Qualys (QLYS) Reported Solid Q3 Earnings

The London Company, an investment management company, released “The London Company Small Cap Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. During Q3, U.S. stocks fell due to rising long-term interest rates, higher energy prices, and the Fed’s message of higher rates for longer. In the third quarter, the fund declined 1.2% (-1.4% net) compared to a 5.1% decrease for the Russell 2000 Index. Both sector exposure and stock selection dragged the performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

The London Company Small Cap Strategy highlighted stocks like Qualys, Inc. (NASDAQ:QLYS) in the third quarter 2023 investor letter. Headquartered in Foster City, California, Qualys, Inc. (NASDAQ:QLYS) is a cloud-based information technology (IT), security, and compliance solutions provider. On November 7, 2023, Qualys, Inc. (NASDAQ:QLYS) stock closed at $172.18 per share. One-month return of Qualys, Inc. (NASDAQ:QLYS) was 6.28%, and its shares gained 51.91% of their value over the last 52 weeks. Qualys, Inc. (NASDAQ:QLYS) has a market capitalization of $6.334 billion.

The London Company Small Cap Strategy made the following comment about Qualys, Inc. (NASDAQ:QLYS) in its Q3 2023 investor letter:

“Qualys, Inc. (NASDAQ:QLYS)– QLYS reported solid 2Q23 earnings, including double-digit sales growth and an acceleration in bookings despite the challenging macroeconomic environment. QLYS continues to execute on their new go-to-market strategy, following the addition of a new Chief Revenue Officer. We have a strong conviction in QLYS’s ability to maintain its industry-leading profitability driven by a variety of cybersecurity products for small and medium sized businesses.”

A close up of a hand typing in commands into a keyboard connected to a large data center.

Qualys, Inc. (NASDAQ:QLYS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held Qualys, Inc. (NASDAQ:QLYS) at the end of second quarter which was 23 in the previous quarter.

We discussed Qualys, Inc. (NASDAQ:QLYS) in another article and shared the list of biggest cybersecurity companies in the world. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 15 States With the Highest Rent in the US
• 15 States With the Highest Property Taxes in the US
• 15 Biggest Tea Producing Countries In The World

Disclosure: None. This article is originally published at Insider Monkey.