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Qualys Takes Public Plunge (Update 2)

Stocks in this article: QLYS CSCO CHKP

This story has been updated Qualys's closing price.

NEW YORK ( TheStreet) -- Security specialist Qualys became the latest tech company to take the public plunge on Friday when it started trading on the Nasdaq under the ticker symbol QLYS.

The Redwood City, Calif.-based company's offering of 7,575,000 shares was priced at $12 a share late on Thursday, at the midpoint of its range of $11 to $13.

Qualys shares opened at $12.18 and rose 7.91% to $12.95 by early afternoon trading. The company's stock closed up 18% at $14.16.

The cloud security and compliance specialist, which competes with Check Point Software (CHKP) and Cisco (CSCO), has racked up more than 5,800 customers worldwide, touting most of the Forbes Global 100 and Fortune 100 as customers. Qualys also counts IBM (IBM), Symantec (SYMC), Verizon (VZ), Dell (DELL) SecureWorks and BT (BT) as partners.

According to its S-1 filing with the Securities and Exchange Commission, Qualys brought in revenue of $76.2 million in 2011, up from $65.4 million in 2010 and $57.4 million in 2009. For the first six months of 2012, the company's revenue was $43.4 million.

Another security specialist, Palo Alto Networks (PANW), enjoyed a successful IPO in July. The company's shares have risen more than 15% since its offering.

--Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

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